document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=603915>Question 603915</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Given A=P(1+r/n)^nt find how long it takes for an investment to double if it is invested at 5% interest compounded quarterly. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #380887 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=380887\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Given A=P(1+r/n)^nt find how long it takes for an investment to double if it is invested at 5% interest compounded quarterly.<BR>\n" );
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document.write( "Solve:  2P = P(1+ (.05/4))^(4t)<BR>\n" );
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document.write( "(1.0125)^(4t) = 2<BR>\n" );
document.write( "(4t) = ln(2)/ln(1.0125) <BR>\n" );
document.write( "4t = 55.7976<BR>\n" );
document.write( "t = 13.95 years<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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