document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=92293>Question 92293</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If you deposit money today into an account that pays 6.5% interest, how long will it take for you to double your money?\r<BR>\n" );
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document.write( "I am having difficulty figuring this out and need some help to solve this problem. Thanks </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #67157 by </B><A HREF=/tutors/aboutme.mpl?userid=Nate><B>Nate(3500)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Nate><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=67157\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> f(x) = x(1 + r)^t determines amount after t time<BR>\n" );
document.write( "f(x) = final amount = 2x because you want your money to double<BR>\n" );
document.write( "x = initial amount<BR>\n" );
document.write( "r = rate<BR>\n" );
document.write( "t = time<BR>\n" );
document.write( "2x = x(1 + 0.065)^t<BR>\n" );
document.write( "2 = (1.065)^t<BR>\n" );
document.write( "log(2) = t*log(1.065)<BR>\n" );
document.write( "log(2)/log(1.065) = t<BR>\n" );
document.write( "About 11 years (or whatever the time is...) </SPAN>\n" );
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