document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=981072>Question 981072</A>: <I><SPAN STYLE=\"word-break: break-all;\"> how long does a 4000 investment to grow to 6000 at an annual rate 11%, compounded quartely. Assume no withdrawals are made.<BR>\n" );
document.write( "Do not round any intermediate computations, and round your answer to the nearest hundredth? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #602094 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=602094\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  how long does a 4000 investment to grow to 6000 at an annual rate 11%, compounded quartely. Assume no withdrawals are made.<BR>\n" );
document.write( "Do not round any intermediate computations, and round your answer to the nearest hundredth?<BR>\n" );
document.write( "----<BR>\n" );
document.write( "A(t) = P(1+(r/n))^(nt)<BR>\n" );
document.write( "------<BR>\n" );
document.write( "6000 = 4000(1+(0.11/4))^(4t)<BR>\n" );
document.write( "----<BR>\n" );
document.write( "(1.0275)^(4t) = 1.5<BR>\n" );
document.write( "----<BR>\n" );
document.write( "(4t) = log(1.5)/log(1.0275)<BR>\n" );
document.write( "4t = 14.95<BR>\n" );
document.write( "----<BR>\n" );
document.write( "t = 3.74 years<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "------------- </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );