document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1018198>Question 1018198</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long will it take for a principal to double if money worth 12%compounded monthly?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #635374 by </B><A HREF=/tutors/aboutme.mpl?userid=FrankM><B>FrankM(1040)</B></A><img src=\"/images/stars/stars-12.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=FrankM><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=FrankM><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=635374\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> I believe you are asking if we have an annual rate of 12%, compounded monthly, how long to double? \r<BR>\n" );
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document.write( "1.01^X=2\r<BR>\n" );
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document.write( "X log(1.01) = log(2)\r<BR>\n" );
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document.write( "X = log(2)/log(1.01)\r<BR>\n" );
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document.write( "X = 69.66 or at 70 months.  </SPAN>\n" );
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