document.write( "Question 920671: Please help me solve this: how long will it take your money to grow from $150 to $200 when it is invested at 3% compounded quarterly? \r
\n" ); document.write( "\n" ); document.write( "I've gotten as far as $\"+200%2F150=%281%2B0.03%2F4%29%5E4t+\"$ thank you \n" ); document.write( "

Algebra.Com's Answer #558529 by KMST(5328) $\"\"$ $\"About$

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$\"+200%2F150=%281%2B0.03%2F4%29%5E%284t%29+\"$ where $\"t\"$ = number of years
\n" ); document.write( " $\"4%2F3=1.0075%5E%284t%29+\"$
\n" ); document.write( " $\"log%28%284%2F3%29%29=4t%2Alog%28%281.0075%29%29\"$
\n" ); document.write( " $\"4t=log%28%28%224%2F3%22%29%29%2Flog%28%281.0075%29%29\"$
\n" ); document.write( " $\"t=log%28%28%224%2F3%22%29%29%2F%284%2Alog%28%281.0075%29%29%29\"$
\n" ); document.write( " $\"t=9.62\"$ (rounded)
\n" ); document.write( "It should take a little longer, because over 9.5 years,
\n" ); document.write( "That is $\"4%2A9.5=38\"$ quarters, the $150 would grow to
\n" ); document.write( " $\"150%2A1.075%5E38=199.25\"$ (rounded).
\n" ); document.write( "Then to earn the remaining $0.75, at 3% you would need $\"x\"$ years,
\n" ); document.write( "with $\"199.25%2A0.03%2Ax=0.75\"$
\n" ); document.write( " $\"x=0.75%2F%28199.25%2A0.03%29=0.13\"$ (rounded),
\n" ); document.write( "for a total of $\"9.5%2B0.13=9.63\"$ years. \n" ); document.write( "

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