document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1112350>Question 1112350</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 1.you deposit $4000 at 7% interest, compounded monthly how many years will it take untill investments exceeds $9000<BR>\n" );
document.write( "2.you invest your money at 12 % compound interest paid quarterly, when will it double in value  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #727400 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=727400\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 1.you deposit $4000 at 7% interest, compounded monthly how many years will it take untill investments exceeds $9000<BR>\n" );
document.write( "4000*(1+(0.07/12))^(12t) > 9000<BR>\n" );
document.write( "(1.00583)^(12t) > 9000<BR>\n" );
document.write( "12t > log9000/log1.00583<BR>\n" );
document.write( "12t > 1566.29<BR>\n" );
document.write( "time > 130.52 years<BR>\n" );
document.write( "------------------------------------ <BR>\n" );
document.write( "2.you invest your money at 12 % compound interest paid quarterly, when will it double in value ?<BR>\n" );
document.write( "2P = P(1+(0.12/4))^(4t)<BR>\n" );
document.write( "---<BR>\n" );
document.write( "1.03^(4t) = 2<BR>\n" );
document.write( "4t = log(2)/log(1.03)<BR>\n" );
document.write( "4t = 23.45<BR>\n" );
document.write( "t = 5.86 years<BR>\n" );
document.write( "------------<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "--------------- </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );