document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1061204>Question 1061204</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find out how long it takes a $3000 investment to double if it is invested at 8% compounded semiannually. Round to the nearest tenth of a year. Use the formula A=P(1+r/n)^nt.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #676070 by </B><A HREF=/tutors/aboutme.mpl?userid=jorel555><B>jorel555(1290)</B></A><img src=\"/images/stars/stars-12.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jorel555><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=676070\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> If 3000 is our initial investment, then:<BR>\n" );
document.write( "6000=3000(1+.08/2)^2t<BR>\n" );
document.write( "(1+.04)^2t=2<BR>\n" );
document.write( "t equals approximately 9, since it takes about 18 terms, or 9 years, for the money to double. &#9786;&#9786;&#9786;&#9786; </SPAN>\n" );
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