document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1033886>Question 1033886</A>: <I><SPAN STYLE=\"word-break: break-all;\"> if 2500 is invested at an interest rate of 6.5% compounded monthly how long will it take for the investment to reach 7500 </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #648506 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=648506\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  if 2500 is invested at an interest rate of 6.5% compounded monthly how long will it take for the investment to reach 7500 <BR>\n" );
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document.write( "A(t) = P(1+(r/n))^(n*t)<BR>\n" );
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document.write( "7500 = 2500(1+(0.065/12))^(12*t)<BR>\n" );
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document.write( "1.0054^(12t) = 3<BR>\n" );
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document.write( "12t = log(3)/log(1.0054)<BR>\n" );
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document.write( "12t = 204<BR>\n" );
document.write( "t = 17 years<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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