document.write( "Question 1048483: If Tanisha has $100 to invest at 8% per annum compounded monthly,
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Algebra.Com's Answer #664103 by Edwin McCravy(20065) $\"\"$ $\"About$

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If Tanisha has $100 to invest at 8% per annum compounded monthly,
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document.write( "Divide both sides by 100\r\n" );
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document.write( "Take natural logs of both sides:\r\n" );
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document.write( "Use the principle of logs to change an exponent\r\n" );
document.write( "to a coefficient:\r\n" );
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document.write( "In 8 years and 8 months she will have a little less than $200.\r\n" );
document.write( "In 8 years and 9 months she will have a little more than $200.\r\n" );
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document.write( "Divide both sides by 100\r\n" );
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document.write( "Take natural logarithms of both sides\r\n" );
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document.write( "In 8 years and 7 months she will have a little less than $200.\r\n" );
document.write( "In 8 years and 8 months she will have a little more than $200.\r\n" );
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document.write( "A little bit quicker with continuous compounding but there is\r\n" );
document.write( "very little difference.\r\n" );
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document.write( "Edwin

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