document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=969267>Question 969267</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If you have $5,000, how long does it take to quadruple your money if you can invest it at 6% compounded daily? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #592186 by </B><A HREF=/tutors/aboutme.mpl?userid=Alan3354><B>Alan3354(69443)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Alan3354><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=Alan3354><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=592186\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> If you have $5,000, how long does it take to quadruple your money if you can invest it at 6% compounded daily?<BR>\n" );
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document.write( "Using 365 days per year:<BR>\n" );
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document.write( "FV = PV*(1 + 0.06/365)^d  (d = # of days)<BR>\n" );
document.write( "FV = 4*PV<BR>\n" );
document.write( "(1 + 0.06/365)^d = 4<BR>\n" );
document.write( "d*log(1 + 0.06/365)) = log(4)<BR>\n" );
document.write( "d = 8434 days<BR>\n" );
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document.write( "=~ 23.107 years<BR>\n" );
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document.write( "The amount is not relevant.  Any amount will be 4x.<BR>\n" );
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