document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=743001>Question 743001</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If I invested $2000.00 at the interest rate of 15%, compounded daily, for 52 weeks. How long would it take to reach $8000.00? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #452723 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=452723\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  If I invested $2000.00 at the interest rate of 15%, compounded daily, for 52 weeks. How long would it take to reach $8000.00?\r<BR>\n" );
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document.write( "A(t) = P(1+(r/n))^(nt)<BR>\n" );
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document.write( "8000 = 2000(1+0.15/365)^(365t)<BR>\n" );
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document.write( "4 = (1.0004110)^(365t)<BR>\n" );
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document.write( "(365t) = log(4)/log(1.0004110)<BR>\n" );
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document.write( "t = 9.24 years<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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