document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=758268>Question 758268</A>: <I><SPAN STYLE=\"word-break: break-all;\"> how long will it take 10,000 to grow to 12,000 if it invested at 9% 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 #461364 by </B><A HREF=/tutors/aboutme.mpl?userid=nerdybill><B>nerdybill(7384)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=nerdybill><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=nerdybill><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=461364\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> how long will it take 10,000 to grow to 12,000 if it invested at 9% compounded monthly?<BR>\n" );
document.write( ".<BR>\n" );
document.write( "Compound interest formula:<BR>\n" );
document.write( "A = P(1 + r/n)^(nt)<BR>\n" );
document.write( "12000 = 10000(1 + .09/12)^(12t)<BR>\n" );
document.write( "12000 = 10000(1 + 0.0075)^(12t)<BR>\n" );
document.write( "12000 = 10000(1.0075)^(12t)<BR>\n" );
document.write( "1.2 = (1.0075)^(12t)<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%281.0075%2C1.2%29 ALIGN=MIDDLE  ALT=\"log%281.0075%2C1.2%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 12t<BR>\n" );
document.write( "log(1.2)/log(1.0075) = 12t<BR>\n" );
document.write( "[log(1.2)/log(1.0075)]/12 = t<BR>\n" );
document.write( "2.03 years = t<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );