document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=616091>Question 616091</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find how long it takes for $1400 to double if it is invested at 3% interest compounded monthly.\r<BR>\n" );
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document.write( "using formula: A=P(1 + r/n) *nt </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #387484 by </B><A HREF=/tutors/aboutme.mpl?userid=nerdybill><B>nerdybill(7384)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=nerdybill><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=nerdybill><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=387484\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Find how long it takes for $1400 to double if it is invested at 3% interest compounded monthly.<BR>\n" );
document.write( "using formula: A=P(1 + r/n)^(nt)<BR>\n" );
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document.write( "P is 1400<BR>\n" );
document.write( "A is 2800 (double P)<BR>\n" );
document.write( "r is .03<BR>\n" );
document.write( "n is 12 (times compounded per year)<BR>\n" );
document.write( "t is what we're looking for<BR>\n" );
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document.write( "plug it all in and solve for t:<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=P%281+%2B+r%2Fn%29%5E%28nt%29 ALIGN=MIDDLE  ALT=\"A=P%281+%2B+r%2Fn%29%5E%28nt%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( ".<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=2800+=+1400%281+%2B+.03%2F12%29%5E%2812t%29 ALIGN=MIDDLE  ALT=\"2800+=+1400%281+%2B+.03%2F12%29%5E%2812t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( ".<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=2800+=+1400%281+%2B+0.0025%29%5E%2812t%29 ALIGN=MIDDLE  ALT=\"2800+=+1400%281+%2B+0.0025%29%5E%2812t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( ".<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=2800+=+1400%281.0025%29%5E%2812t%29 ALIGN=MIDDLE  ALT=\"2800+=+1400%281.0025%29%5E%2812t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( ".<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=2+=+%281.0025%29%5E%2812t%29 ALIGN=MIDDLE  ALT=\"2+=+%281.0025%29%5E%2812t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( ".<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%281.0025%2C2%29+=+12t ALIGN=MIDDLE  ALT=\"log%281.0025%2C2%29+=+12t\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( ".<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%282%29%2Flog%281.0025%29+=+12t ALIGN=MIDDLE  ALT=\"log%282%29%2Flog%281.0025%29+=+12t\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( ".<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%282%29%2F12log%281.0025%29+=+t ALIGN=MIDDLE  ALT=\"log%282%29%2F12log%281.0025%29+=+t\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( ".<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=23.13+=+t ALIGN=MIDDLE  ALT=\"23.13+=+t\"   DISABLED_style= \"max-width:90%; height:auto;\" > (years)\r<BR>\n" );
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document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );