document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=875363>Question 875363</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Oliver invested $12,000 in an account that accrues compound interest at a rate of 2.5% yearly. What is the minimum number of years Oliver must wait before he has at least double his original investment? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #528125 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16946)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=528125\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Principal P =	12000									<BR>\n" );
document.write( "Amount=	24000									<BR>\n" );
document.write( "n= number of periods	1									<BR>\n" );
document.write( "compounded (t)	1									<BR>\n" );
document.write( "Rate =	2.5									<BR>\n" );
document.write( "n = ln(FV / PV) / ln(1 + r)									<BR>\n" );
document.write( "										<BR>\n" );
document.write( "n=(	ln	(	24000	/	12000	)/ln(	1	+	0.03	)<BR>\n" );
document.write( "n=(	0.69	)/	ln	1.03						<BR>\n" );
document.write( "n=(	0.69	/	0.02	)  						<BR>\n" );
document.write( "n=  	28.07									<BR>\n" );
document.write( "	28.07	years								<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );