document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=624561>Question 624561</A>: <I><SPAN STYLE=\"word-break: break-all;\"> At what interest rate (to the nearest hundredth of a percent) compounded annually will money in savings double in five years?\r<BR>\n" );
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document.write( "That is my problem and I have tried it like this.<BR>\n" );
document.write( "2=1(1+I)^5 then I distributed the 1 then I just subtracted 1 from both sides and then put the entire problem into logarithmic form and didn't know what to do from there but I figured that I=1 because 5^1=5 but the answer still comes out wrong. I am taking an online course and have already exceeded my limit of times able to take it while still getting the same problem wrong. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #392845 by </B><A HREF=/tutors/aboutme.mpl?userid=solver91311><B>solver91311(24713)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=solver91311><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=solver91311><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=392845\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font face=\"Times New Roman\" size=\"+2\">\r<BR>\n" );
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document.write( "\"I just subtracted 1 from both sides...\" is your error.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ (1\ +\ i)^5\ =\ 2\">\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ \ln(1\ +\ i)^5\ =\ \ln(2)\">\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ 5\ln(1\ +\ i)\ =\ \ln(2)\">\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ \ln(1\ +\ i)\ =\ \frac{\ln(2)}{5}\">\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ e^{\frac{\ln(2)}{5}}\ =\ 1\ +\ i\">\r<BR>\n" );
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document.write( "NOW you add -1 to both sides:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ i\ =\ e^{\frac{\ln(2)}{5}}\ -\ 1\">\r<BR>\n" );
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document.write( "Run the RHS through your calculator, convert to percent, and round to two places.\r<BR>\n" );
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document.write( "John<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE e^{i\pi}\ +\ 1\ =\ 0\"><BR>\n" );
document.write( "My calculator said it, I believe it, that settles it<BR>\n" );
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