document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=866000>Question 866000</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Use the formula A=P(1+r/n)^nt to solve the compound interest problem<BR>\n" );
document.write( "Find how long it takes for $1700 to double if it is invested at 6% interested 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 #522033 by </B><A HREF=/tutors/aboutme.mpl?userid=richwmiller><B>richwmiller(17219)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=richwmiller><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=richwmiller><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=522033\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A=P(1+r/n)^nt <BR>\n" );
document.write( " In the formula, <BR>\n" );
document.write( "A is the amount of money in the savings account, 3400<BR>\n" );
document.write( "P is the principle,  1700<BR>\n" );
document.write( "r is the interest rate, 6% or .06<BR>\n" );
document.write( "t is the time that the money is in the account,  ---We are trying to find this.\r<BR>\n" );
document.write( "\n" );
document.write( " n is the number of times the money is compounded per year. 12\r<BR>\n" );
document.write( "\n" );
document.write( "A=P(1+r/n)^nt <BR>\n" );
document.write( "3400=1700(1+.06/12)^12t   </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );