document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=890879>Question 890879</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How many years would it take you to triple your investment if your money compounds monthly at an annual rate of 5%?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #539341 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=539341\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> How many years would it take you to triple your investment if your money compounds monthly at an annual rate of 5%? <BR>\n" );
document.write( ".<BR>\n" );
document.write( "compound interest formula:<BR>\n" );
document.write( "A = P(1 + i/n)^(nt)<BR>\n" );
document.write( "substitute values given:<BR>\n" );
document.write( "3P = P(1 + .05/12)^(12t)<BR>\n" );
document.write( "dividing both sides by P:<BR>\n" );
document.write( "3 = (1 + .05/12)^(12t)<BR>\n" );
document.write( "3 = (1 + 0.00416666666666666666666666666667)^(12t)<BR>\n" );
document.write( "3 = (1.00416666666666666666666666666667)^(12t)<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%281.0041667%2C3%29%29 ALIGN=MIDDLE  ALT=\"log%281.0041667%2C3%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > == 12t<BR>\n" );
document.write( "264.21587475470292707427548409693 =  12t<BR>\n" );
document.write( "22.02 years = t </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );