document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1101776>Question 1101776</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A man invests $3000 in an account that pays 7.5% interest per year, compounded quarterly.<BR>\n" );
document.write( "(a) Find the amount after 2 years? (Round your answer to the nearest cent.)\r<BR>\n" );
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document.write( "(b) How long will it take for the investment to triple? (Round your answer to two decimal places.)<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #716399 by </B><A HREF=/tutors/aboutme.mpl?userid=greenestamps><B>greenestamps(13198)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=greenestamps><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=greenestamps><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=716399\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <br><BR>\n" );
document.write( "(a) The periodic (quarterly) growth factor is <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1+%2B+.075%2F4+=+1.01875 ALIGN=MIDDLE  ALT=\"1+%2B+.075%2F4+=+1.01875\"   DISABLED_style= \"max-width:90%; height:auto;\" ><br><BR>\n" );
document.write( "2 Years is 8 quarters, so the value of $3000 after 2 years at this rate is<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=3000%281.01875%5E8%29+=+3480.67 ALIGN=MIDDLE  ALT=\"3000%281.01875%5E8%29+=+3480.67\"   DISABLED_style= \"max-width:90%; height:auto;\" ><br><BR>\n" );
document.write( "(b) For the investment to triple, we want the growth factor to be equal to 3:<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1.01875%5En+=+3 ALIGN=MIDDLE  ALT=\"1.01875%5En+=+3\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=n%2Alog%281.01875%29+=+log%283%29 ALIGN=MIDDLE  ALT=\"n%2Alog%281.01875%29+=+log%283%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=n+=+log%283%29%2Flog%281.01875%29+=+59.14026 ALIGN=MIDDLE  ALT=\"n+=+log%283%29%2Flog%281.01875%29+=+59.14026\"   DISABLED_style= \"max-width:90%; height:auto;\" ><br><BR>\n" );
document.write( "It takes that many quarters for the value to triple at this interest rate.  Since the question asks for an answer in years, the answer is <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=59.14026%2F4+=+14.76 ALIGN=MIDDLE  ALT=\"59.14026%2F4+=+14.76\"   DISABLED_style= \"max-width:90%; height:auto;\" > rounded to 2 decimal places. </SPAN>\n" );
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