document.write( "Question 728803: If $7,000 is placed in an account with an annual interest rate of 4%, how long will it take the amount to quadruple if the interest is compounded annually? Round your answer to two decimal places.
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Algebra.Com's Answer #445596 by solver91311(24713) $\"\"$ $\"About$

You can put this solution on YOUR website!
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\n" ); document.write( "\n" ); document.write( "Where

is the future value,

is the present value, i.e. the starting principal,

is the interest rate as a decimal (the percentage divided by 100),

is the number of compounding periods per year, and

is the number of years. Since you are compounding annually,

and the formula reduces to:\r
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\n" ); document.write( "\n" ); document.write( "Since you want the principal to quadruple,

must be true, hence solve:\r
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\n" ); document.write( "\n" ); document.write( "for

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\n" ); document.write( "\n" ); document.write( "Hint: Take the log of both sides, any base -- it doesn't matter. Then use:

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\n" ); document.write( "\n" ); document.write( "John
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\n" ); document.write( "Egw to Beta kai to Sigma
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$\"The$

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