document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=540573>Question 540573</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long does it take for an investment to double in value if it is investedat 6% compounded monthly? Compounded contiuously? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #353768 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=353768\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> How long does it take for an investment to double in value if it is invested at 6% compounded monthly? <BR>\n" );
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document.write( "A(t) = Ao*(1+(r/n))^(nt)<BR>\n" );
document.write( "2Ao = Ao*(1+(0.06/12))^(12t)<BR>\n" );
document.write( "(1.005)^(12t) = 2<BR>\n" );
document.write( "(12t) = log(2)/(log1.005) = 139<BR>\n" );
document.write( "t = 11.58 Years<BR>\n" );
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document.write( "Compounded contiuously?<BR>\n" );
document.write( "A(t)= Ao*e^rt<BR>\n" );
document.write( "Solve: e^(0.06t) = 2<BR>\n" );
document.write( "0.06t = ln(2)<BR>\n" );
document.write( "t = 11.55 years<BR>\n" );
document.write( "====================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.\r<BR>\n" );
document.write( "<BR>\n" );
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document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );