document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1003896>Question 1003896</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How much time will be needed for $24,000 to grow to $24,974.50 if deposited at 4% compound quaterly?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #620511 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=620511\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 24974.50=24000(1+.04/4)^4t<BR>\n" );
document.write( "1.041=(1.01)^4t<BR>\n" );
document.write( "ln of both sides before rounding.<BR>\n" );
document.write( "0.0398=4t(ln1.01)=0.0398<BR>\n" );
document.write( "1 year<BR>\n" );
document.write( "check<BR>\n" );
document.write( "$24000(1.01)^4=$24950. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );