document.write( "Question 945779: How long does it take a $1000 investment to earn $100 interest if it is invested at 4% interest compounded quarterly? \r
\n" ); document.write( "\n" ); document.write( "Use the formula : A = P(1+r/n)^(n)(t)
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Algebra.Com's Answer #576935 by josmiceli(19441)\"\" \"About 
You can put this solution on YOUR website!
\"+A+\" is the amount you end up with
\n" ); document.write( "after time \"+t+\"
\n" ); document.write( "\"+A+=+1000+%2B+100+=+1100+\"
\n" ); document.write( "\"+P+\" = amount you started out with
\n" ); document.write( "\"+P+=+1000+\"
\n" ); document.write( "\"+n+=+4+\" because of compounding
\n" ); document.write( "quarterly
\n" ); document.write( "\"+r+=+.04+\" is a 4% interest rate
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\n" ); document.write( "\"+1100+=+1000%2A%28+1+%2B+.04%2F4+%29%5E%284t%29+\"
\n" ); document.write( "\"+1100+=+1000%2A%28+1.01%29%5E%284t%29+\"
\n" ); document.write( "Divide both sides by \"+1000+\"
\n" ); document.write( "\"+1.1+=+%28+1.01+%29%5E%284t%29+\"
\n" ); document.write( "Take the log base \"+10+\" of both sides
\n" ); document.write( "\"+log%28%28+1.1+%29%29+=+log%28%28+1.01%5E%284t%29+%29%29+\"
\n" ); document.write( "\"+log%28%28+1.1+%29%29+=+4t%2Alog%28%28+1.01+%29%29+\"
\n" ); document.write( "\"+4t+=+log%28%28+1.1%29%29+%2F+log%28%28+1.01+%29%29+\"
\n" ); document.write( "\"+t+=+log%28%28+1.1+%29%29+%2F+%28+4%2Alog%28%28+1.01+%29+%29%29+\"
\n" ); document.write( "\"+t+=+.041393+%2F+%28+4%2A.00432137+%29+\"
\n" ); document.write( "\"+t+=+.041393+%2F+.0172855+\"
\n" ); document.write( "\"+t+=+2.394666+\"
\n" ); document.write( "2.394666 years
\n" ); document.write( "-------------
\n" ); document.write( "check:
\n" ); document.write( "\"+1100+=+1000%2A%28+1+%2B+.04%2F4+%29%5E%284t%29+\"
\n" ); document.write( "\"+1100+=+1000%2A%28+1+%2B+.04%2F4+%29%5E%284%2A2.394666%29+\"
\n" ); document.write( "\"+1100+=+1000%2A%28+1+%2B+.04%2F4+%29%5E%289.578664%29+\"
\n" ); document.write( "\"+1.1+=+1.01%5E9.578664+\"
\n" ); document.write( "\"+1.1+=+1.1000008+\"
\n" ); document.write( "close enough\r
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