document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1111503>Question 1111503</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long will it take an investment of $2000 to double if the investment earns interest at the rate of 5%/year compounded monthly? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #726518 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16946)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=726518\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Find number of years									<BR>\n" );
document.write( "Principal P =	2000								<BR>\n" );
document.write( "Amount=	4000								<BR>\n" );
document.write( "years=n									<BR>\n" );
document.write( "compounded (t)	12  (monthly)								<BR>\n" );
document.write( "Rate =	5		(5%/12)	->	0.004166667				<BR>\n" );
document.write( "Amount =	P*((n+r)/n)^n*t								<BR>\n" );
document.write( "									<BR>\n" );
document.write( "4000	=	2000	*(	1	+	0.004166667	)^	n*t	<BR>\n" );
document.write( "2	=	*(	1	+	0.004166667	)^	n*	12	<BR>\n" );
document.write( "ln	2	=	12	n *ln	1.004166667				<BR>\n" );
document.write( "	0.693147181	=	12	0.00415801	*n				<BR>\n" );
document.write( "	13.89180473	=	n\r<BR>\n" );
document.write( "\n" );
document.write( "Number of years = 13.89						<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );