document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1133290>Question 1133290</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You deposit $1250 in an account that pays 5.4% annual interest compounded monthly.\r<BR>\n" );
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document.write( "a. When does your balance first exceed $1750?\r<BR>\n" );
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document.write( "after _____ years and _____ months </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #750466 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=750466\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 1750=1250(1+0.054/12)^12t, where t=number of years.<BR>\n" );
document.write( "1750/1250=1.4=(1.0045)^12t<BR>\n" );
document.write( "logs both sides<BR>\n" );
document.write( "log(1.4)=12tlog(1.0045)<BR>\n" );
document.write( "12t=log(1.4)/log(1.0045)=74.94<BR>\n" );
document.write( "It will be in the 75th month or 6y3m.\r<BR>\n" );
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document.write( "check 1250(1.0045)^75=$1750.47 </SPAN>\n" );
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