document.write( "Question 745272: please help me solve this:
\n" ); document.write( "suppose you won $10,000. You decide to invest it and look around at some options.\r
\n" ); document.write( "\n" ); document.write( "1. How long would it take to double your money if it is invested at 6% compounded quarterly?\r
\n" ); document.write( "\n" ); document.write( "2. How long would it take to double your money if it is invested at 5% compounded monthly? \n" ); document.write( "

Algebra.Com's Answer #453772 by Alan3354(69443) $\"\"$ $\"About$

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suppose you won $10,000. You decide to invest it and look around at some options.\r
\n" ); document.write( "\n" ); document.write( "1. How long would it take to double your money if it is invested at 6% compounded quarterly?
\n" ); document.write( "The amount doesn't matter.
\n" ); document.write( "6%/4 = 1.5% per quarter --> 0.-15
\n" ); document.write( "20000 = 10000*1.015^t (t in quarters)
\n" ); document.write( "1.015^t = 2
\n" ); document.write( "t*log(1.105) = log(2)
\n" ); document.write( "t = log(2)/log(1.015)
\n" ); document.write( "t =~ 46.556 quarters = 11.64 years
\n" ); document.write( "--------------
\n" ); document.write( "2. How long would it take to double your money if it is invested at 5% compounded monthly?
\n" ); document.write( "Do it the same way.
\n" ); document.write( "5%/12 = 0.416667/month \n" ); document.write( "

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