document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1117229>Question 1117229</A>: <I><SPAN STYLE=\"word-break: break-all;\"> The Petersons deposited $1,000 in an account that earns 2% annual simple interest. How many years will it take the amount to double? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #732260 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=732260\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The Petersons deposited $1,000 in an account that earns 2% annual simple interest. How many years will it take the amount to double? <BR>\n" );
document.write( "------------------<BR>\n" );
document.write( "A(t) = P(1+rt)<BR>\n" );
document.write( "-----------------------<BR>\n" );
document.write( "2000 = 1000(1+0.02t)<BR>\n" );
document.write( "---------------<BR>\n" );
document.write( "1+0.02t = 2<BR>\n" );
document.write( "0.02t = 1<BR>\n" );
document.write( "t = 100/2 = 5 yrs<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" );