document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1102640>Question 1102640</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A person invested $17100 at 7.3% interest compounded quarterly. Estimate the number of years for the investment to double. \r<BR>\n" );
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document.write( "A) 23 B) 33 C) 10 D) 12 </SPAN>\n" );
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document.write( "The amount invested is irrelevant.<br><BR>\n" );
document.write( "Money earning 7.3% annual interest, compounded quarterly, will have a growth factor of <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1%2B.073%2F4=1.01825 ALIGN=MIDDLE  ALT=\"1%2B.073%2F4=1.01825\"   DISABLED_style= \"max-width:90%; height:auto;\" > each quarter.  To find the number of quarters it takes for the amount to double, we need to find how many times the growth factor must be applied to make the overall growth factor equal to 2:<br><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1.01825%5En+=+2 ALIGN=MIDDLE  ALT=\"1.01825%5En+=+2\"   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%281.01825%29+=+log%282%29 ALIGN=MIDDLE  ALT=\"n%2Alog%281.01825%29+=+log%282%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%282%29%2Flog%281.01825%29+=+38.326 ALIGN=MIDDLE  ALT=\"n+=+log%282%29%2Flog%281.01825%29+=+38.326\"   DISABLED_style= \"max-width:90%; height:auto;\" ><br><BR>\n" );
document.write( "It takes about 38.326 quarters, or 9.58 years, for the value of the investment to double. </SPAN>\n" );
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