document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1040131>Question 1040131</A>: <I><SPAN STYLE=\"word-break: break-all;\">  jimmy invest 16000 in an account that pays 8.13% compounded quarterly. How long(in years and months) will it take for his investment to reach 21000. Round the answer for months up to the nearest multiple of 3  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #654942 by </B><A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><B>ankor@dixie-net.com(22740)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><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=ankor@dixie-net.com><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=654942\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  jimmy invest 16000 in an account that pays 8.13% compounded quarterly.<BR>\n" );
document.write( " How long(in years and months) will it take for his investment to reach 21000.<BR>\n" );
document.write( ":<BR>\n" );
document.write( "the compound interest formula <BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+p%281+%2B+%28r%2Fn%29%29%5E%28nt%29 ALIGN=MIDDLE  ALT=\"A+=+p%281+%2B+%28r%2Fn%29%29%5E%28nt%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >, where<BR>\n" );
document.write( "A = the resulting amt after t yrs<BR>\n" );
document.write( "P = initial amt<BR>\n" );
document.write( "r = annual interest rate in decimal form<BR>\n" );
document.write( "n = compounding periods per yr<BR>\n" );
document.write( "t = no. of yrs<BR>\n" );
document.write( ":<BR>\n" );
document.write( "In the problem<BR>\n" );
document.write( "A = 21000<BR>\n" );
document.write( "p = 16000<BR>\n" );
document.write( "n = 4 (time per yr)<BR>\n" );
document.write( "r = .0813<BR>\n" );
document.write( "t = yrs<BR>\n" );
document.write( ":<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=16000%281+%2B+%28.0813%2F4%29%29%5E%284t%29 ALIGN=MIDDLE  ALT=\"16000%281+%2B+%28.0813%2F4%29%29%5E%284t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 21000<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=16000%281.020325%29%5E%284t%29 ALIGN=MIDDLE  ALT=\"16000%281.020325%29%5E%284t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 21000<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281.020325%29%5E%284t%29 ALIGN=MIDDLE  ALT=\"%281.020325%29%5E%284t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=21000%2F16000%29%0D%0A%7B%7B%7B%281.020325%29%5E%284t%29 ALIGN=MIDDLE  ALT=\"21000%2F16000%29%0D%0A%7B%7B%7B%281.020325%29%5E%284t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 1.3125<BR>\n" );
document.write( "Using logs<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%281.020325%29%5E%284t%29 ALIGN=MIDDLE  ALT=\"log%281.020325%29%5E%284t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = log(1.3125)<BR>\n" );
document.write( "log equiv of exponents<BR>\n" );
document.write( "4t*log(1.020325) = log(1.3125)<BR>\n" );
document.write( "4t = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log1.3125%2Flog%281.020325%29 ALIGN=MIDDLE  ALT=\"log1.3125%2Flog%281.020325%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "use you calc<BR>\n" );
document.write( "4t = 13.515<BR>\n" );
document.write( "divide by 4<BR>\n" );
document.write( "t = 3.379 yrs<BR>\n" );
document.write( "find the no. of months<BR>\n" );
document.write( ".379(12) = 4.54 months<BR>\n" );
document.write( "Rounds up to 4 yrs 9 months  </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );