document.write( "Question 629164: I place 1,000 in savings with an interest rate of 6%, how long would it take to have 2,000 in savings with just the interest rate? \n" ); document.write( "

Algebra.Com's Answer #396069 by ewatrrr(24785) $\"\"$ $\"About$

You can put this solution on YOUR website!

 
\n" );
document.write( "Hi,
\n" );
document.write( "In General 
\n" );
document.write( "A = Accumulated Amount $2000
\n" );
document.write( "P= principal = $1000
\n" );
document.write( "r= annual rate = .06
\n" );
document.write( "n= periods per year = 1
\n" );
document.write( "t= years =
\n" );
document.write( " 
\n" );
document.write( "  log 2/log(1.06) = t
\n" );
document.write( " 
\n" );
document.write( " \n" );
document.write( "

\n" );