document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1058237>Question 1058237</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A $5000 investment that grows at annual rate of 6% can be modeled by the function:<BR>\n" );
document.write( "y = 5000 (1.06)x<BR>\n" );
document.write( "a) Determine the value of the investment after 20 years.<BR>\n" );
document.write( "b) How long would it take for the investment to double? Use your graphing calculator and show<BR>\n" );
document.write( " window dimensions and graph.<BR>\n" );
document.write( "c) c) How long would it take the investment to double using the rule of 72? Explain any differences. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #673290 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=673290\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  A $5000 investment that grows at annual rate of 6% can be modeled by the function:<BR>\n" );
document.write( "y = 5000 (1.06)^x<BR>\n" );
document.write( "a) Determine the value of the investment after 20 years.<BR>\n" );
document.write( "y = 5000*1.06^20 = 16035.68<BR>\n" );
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document.write( "b) How long would it take for the investment to double? Use your graphing calculator and show window dimensions and graph.<BR>\n" );
document.write( "Solve::<BR>\n" );
document.write( "2 = 1.06^x<BR>\n" );
document.write( "x = log2/log1.06 = 11.9 years<BR>\n" );
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document.write( "c) c) How long would it take the investment to double using the rule of 72? Explain any differences.<BR>\n" );
document.write( "Don't know any rule of 72.<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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document.write( "</TD></TR></TABLE>\n" );