document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=701174>Question 701174</A>: <I><SPAN STYLE=\"word-break: break-all;\"> how long will it take to produce 10000 from a 7000 investment at 8 percent compounded monthly?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #432277 by </B><A HREF=/tutors/aboutme.mpl?userid=Alan3354><B>Alan3354(69443)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Alan3354><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=Alan3354><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=432277\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> how long will it take to produce 10000 from a 7000 investment at 8 percent compounded monthly? <BR>\n" );
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document.write( "10000 = 7000*(1 + 8/12)^t, t in months<BR>\n" );
document.write( "(1 + 2/3)^t = 10/7<BR>\n" );
document.write( "t*log(1 + 2/3) = log(10/7)<BR>\n" );
document.write( "t = log(10/7)/log(1 + 2/3) months<BR>\n" );
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