document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1043189>Question 1043189</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long will it take $500 to Double itself, if it is invested at 8% annual interest rate compounded quarterly ?<BR>\n" );
document.write( "Set up and solve using an algebraic equation..<BR>\n" );
document.write( "Than you for your help :) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #658293 by </B><A HREF=/tutors/aboutme.mpl?userid=Alan3354><B>Alan3354(69443)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Alan3354><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=Alan3354><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=658293\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> How long will it take $500 to Double itself, if it is invested at 8% annual interest rate compounded quarterly ?<BR>\n" );
document.write( "Set up and solve using an algebraic equation..<BR>\n" );
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document.write( "The amount doesn't matter.<BR>\n" );
document.write( "FV = PV*(1 + 0.08/4)^(4t) t in years<BR>\n" );
document.write( "FV = 2*PV<BR>\n" );
document.write( "--> 2 = 1.02^(4t)<BR>\n" );
document.write( "4t*ln(1.02) = ln(2)<BR>\n" );
document.write( "t = ln(2)/(4*ln(1.02)) years<BR>\n" );
document.write( " </SPAN>\n" );
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