document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=943187>Question 943187</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long would it take an investment to double under each of the following conditions?<BR>\n" );
document.write( "(a) Interest is 4.4% compounded monthly. (Enter your answer as a whole number of years and months.) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #575001 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=575001\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> How long would it take an investment to double under each of the following conditions?<BR>\n" );
document.write( " (a) Interest is 4.4% compounded monthly. (Enter your answer as a whole number of years and months.)<BR>\n" );
document.write( "-----<BR>\n" );
document.write( "A(t) = P(1+(r/n))^(nt)<BR>\n" );
document.write( "----<BR>\n" );
document.write( "2P = P(1+(0.044/12))^(12*t)<BR>\n" );
document.write( "----<BR>\n" );
document.write( "1.00367^(12t) = 2<BR>\n" );
document.write( "---<BR>\n" );
document.write( "12t = log(2)/log(1.00367) = 189.21<BR>\n" );
document.write( "t = 189.21/12 = 15.77 = 15 years 9 mths<BR>\n" );
document.write( "--------------------<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "-------------- </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );