document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=616085>Question 616085</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long does it take $1175 to double if it is invested at 6% interest rate 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 #387477 by </B><A HREF=/tutors/aboutme.mpl?userid=unlockmath><B>unlockmath(1688)</B></A><img src=\"/images/stars/stars-12.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=unlockmath><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/cgi-bin/show-face.mpl?user=unlockmath><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=387477\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Hello, <BR>\n" );
document.write( "We need to use the following formula:<BR>\n" );
document.write( "A=P(1+r/n)^nt<BR>\n" );
document.write( "Now plug in the values:<BR>\n" );
document.write( "2350=1175(1+.06/4)^4t  (t represents the time)<BR>\n" );
document.write( "Divide 1175 to get:<BR>\n" );
document.write( "2=(1+.015)^4t<BR>\n" );
document.write( "Use log:<BR>\n" );
document.write( "log 2= 4t log 1.015<BR>\n" );
document.write( "Divide by 4 log 1.015 to get:<BR>\n" );
document.write( "Log 2/4 log 1.015 = t<BR>\n" );
document.write( "Solve:<BR>\n" );
document.write( "t= 11.6 years (approx)<BR>\n" );
document.write( "Make sense?<BR>\n" );
document.write( "RJ<BR>\n" );
document.write( "www.math-unlcok.com </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );