document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1136980>Question 1136980</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A bank account starts with $700 and earns an annual interest rate of 6%, compounded monthly.\r<BR>\n" );
document.write( "\n" );
document.write( "What will the balance be after 2 years?\r<BR>\n" );
document.write( "\n" );
document.write( "B= 789.01 (I know how to solve this part)\r<BR>\n" );
document.write( "\n" );
document.write( "How long will it take the balance to reach $1000? \r<BR>\n" );
document.write( "\n" );
document.write( "t= ? (I'm having trouble solving this part. Any help is appropriated. Thank you!) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #754811 by </B><A HREF=/tutors/aboutme.mpl?userid=greenestamps><B>greenestamps(13200)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=greenestamps><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=greenestamps><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=754811\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <br><BR>\n" );
document.write( "For the part you solved, you know the amount of time and you want to know the final balance:<br><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=700%281%2B.06%2F12%29%5E%28%282%2A12%29%29+=+700%281.005%29%5E24+=+789.01 ALIGN=MIDDLE  ALT=\"700%281%2B.06%2F12%29%5E%28%282%2A12%29%29+=+700%281.005%29%5E24+=+789.01\"   DISABLED_style= \"max-width:90%; height:auto;\" ><br><BR>\n" );
document.write( "So you did that part right.<br><BR>\n" );
document.write( "For the other part, the formula is the same; but now the final value is known and the amount of time is not:<br><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=700%281.005%29%5Et+=+1000 ALIGN=MIDDLE  ALT=\"700%281.005%29%5Et+=+1000\"   DISABLED_style= \"max-width:90%; height:auto;\" ><br><BR>\n" );
document.write( "With the unknown in an exponent, you need to use logarithms to solve the problem.<br><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1.005%5Et+=+1000%2F700+=+10%2F7 ALIGN=MIDDLE  ALT=\"1.005%5Et+=+1000%2F700+=+10%2F7\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=t%2Alog%28%281.005%29%29+=+log%28%2810%2F7%29%29 ALIGN=MIDDLE  ALT=\"t%2Alog%28%281.005%29%29+=+log%28%2810%2F7%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=t+=+log%28%2810%2F7%29%29%2Flog%28%281.005%29%29 ALIGN=MIDDLE  ALT=\"t+=+log%28%2810%2F7%29%29%2Flog%28%281.005%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><br><BR>\n" );
document.write( "Use a calculator...; and remember the answer you get is in months. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );