document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=946945>Question 946945</A>: <I><SPAN STYLE=\"word-break: break-all;\"> When interest is compounded quarterly (4 times a year) at an annual rate of 6%, the rate of interest for each quarter is <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+0.06%2F4+ ALIGN=MIDDLE  ALT=\"+0.06%2F4+\"   DISABLED_style= \"max-width:90%; height:auto;\" > , and the number of times that interest is added in t years is<BR>\n" );
document.write( "4t. After how many years will an investment of $100 compounded quarterly at 6% annually be worth at least $450? (Use the formula <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+A+%28n%29+=+A+%280%29+%28+1+%2B+r%2Fn+%29+%5Ent+ ALIGN=MIDDLE  ALT=\"+A+%28n%29+=+A+%280%29+%28+1+%2B+r%2Fn+%29+%5Ent+\"   DISABLED_style= \"max-width:90%; height:auto;\" > ). </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #577710 by </B><A HREF=/tutors/aboutme.mpl?userid=josmiceli><B>josmiceli(19441)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=josmiceli><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=josmiceli><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=577710\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> (a)<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+4t+ ALIGN=MIDDLE  ALT=\"+4t+\"   DISABLED_style= \"max-width:90%; height:auto;\" > times in <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+t+ ALIGN=MIDDLE  ALT=\"+t+\"   DISABLED_style= \"max-width:90%; height:auto;\" > years<BR>\n" );
document.write( "---------------------------<BR>\n" );
document.write( "(b)<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+A+%28n%29+=+A+%280%29+%28+1+%2B+r%2Fn+%29+%5Ent+ ALIGN=MIDDLE  ALT=\"+A+%28n%29+=+A+%280%29+%28+1+%2B+r%2Fn+%29+%5Ent+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+r+=+.06+ ALIGN=MIDDLE  ALT=\"+r+=+.06+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+n+=+4+ ALIGN=MIDDLE  ALT=\"+n+=+4+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+A%280%29+=+100+ ALIGN=MIDDLE  ALT=\"+A%280%29+=+100+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+A%284%29+=+450+ ALIGN=MIDDLE  ALT=\"+A%284%29+=+450+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "----------------<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+450+=+100%2A%28+1+%2B+.06%2F4+%29%5E%28+4%2At+%29+ ALIGN=MIDDLE  ALT=\"+450+=+100%2A%28+1+%2B+.06%2F4+%29%5E%28+4%2At+%29+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+450+=+100%2A%28+1.015+%29%5E%28+4t+%29+ ALIGN=MIDDLE  ALT=\"+450+=+100%2A%28+1.015+%29%5E%28+4t+%29+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+4.5+=+%28+1.015+%29%5E%28+4t+%29+ ALIGN=MIDDLE  ALT=\"+4.5+=+%28+1.015+%29%5E%28+4t+%29+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+log%28+4.5+%29+=+4t%2Alog%28+1.015+%29+ ALIGN=MIDDLE  ALT=\"+log%28+4.5+%29+=+4t%2Alog%28+1.015+%29+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+4t+=+log%28+4.5+%29+%2F+log%28+1.015+%29+ ALIGN=MIDDLE  ALT=\"+4t+=+log%28+4.5+%29+%2F+log%28+1.015+%29+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+4t+=+.6532+%2F+.00647+ ALIGN=MIDDLE  ALT=\"+4t+=+.6532+%2F+.00647+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+4t+=+100.9583+ ALIGN=MIDDLE  ALT=\"+4t+=+100.9583+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+t+=+25.2396+ ALIGN=MIDDLE  ALT=\"+t+=+25.2396+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "25.2396 years<BR>\n" );
document.write( "----------------<BR>\n" );
document.write( "check:<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+450+=+100%2A%28+1+%2B+.06%2F4+%29%5E%28+4%2A25.2396+%29+ ALIGN=MIDDLE  ALT=\"+450+=+100%2A%28+1+%2B+.06%2F4+%29%5E%28+4%2A25.2396+%29+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+450+=+1.015%5E100.9584+ ALIGN=MIDDLE  ALT=\"+450+=+1.015%5E100.9584+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+4.5+=+4.49574+ ALIGN=MIDDLE  ALT=\"+4.5+=+4.49574+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "error due to rounding off, I think\r<BR>\n" );
document.write( "\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );