document.write( "Question 630639: How long does it take for $1000 to double if it is invested at 3% interest compounded monthly? \n" ); document.write( "
Algebra.Com's Answer #397069 by nerdybill(7384)\"\" \"About 
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How long does it take for $1000 to double if it is invested at 3% interest compounded monthly?
\n" ); document.write( "\"A+=+P%281+%2B+i%2Fn%29%5E%28nt%29\"
\n" ); document.write( "\"2000+=+1000%281+%2B+.03%2F12%29%5E%2812t%29\"
\n" ); document.write( "\"2+=+%281+%2B+.03%2F12%29%5E%2812t%29\"
\n" ); document.write( "\"2+=+%281.0025%29%5E%2812t%29\"
\n" ); document.write( "\"log%281.0025%2C2%29+=+12t\"
\n" ); document.write( "\"log%282%29%2Flog%281.0025%29+=+12t\"
\n" ); document.write( "\"log%282%29%2F%2812%2Alog%281.0025%29%29+=+12t\"
\n" ); document.write( "\"23.1+=+t\"
\n" ); document.write( ".
\n" ); document.write( "That's ~23 years\r
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