document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1119587>Question 1119587</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long will it take a $1,700.00 investment to earn $350.00 in interest if it is invested at 10% compounded quarterly. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #735162 by </B><A HREF=/tutors/aboutme.mpl?userid=Alan3354><B>Alan3354(69443)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Alan3354><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=Alan3354><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=735162\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> How long will it take a $1,700.00 investment to earn $350.00 in interest if it is invested at 10% compounded quarterly.<BR>\n" );
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document.write( "FV = PV*(1.025)^t<BR>\n" );
document.write( "2050 = 1700*(1.025)^t<BR>\n" );
document.write( "1.025^t = 2050/1700<BR>\n" );
document.write( "t*ln(1.025) = ln(205/170)<BR>\n" );
document.write( "t = ln(41/34)/ln(1.025)<BR>\n" );
document.write( "t = ~ 7.58 quarters<BR>\n" );
document.write( "t = ~ 1 year, 9 months<BR>\n" );
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document.write( "Since banks don't round up --> 2 years<BR>\n" );
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