document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1140182>Question 1140182</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Tyron is saving up money for a down payment on a motorcycle.  He currently has $5648, but knows he can get a loan at a lower interest rate if he can put down $6355.  If he invests the $5648 in an account that earns 6% annually, compounded monthly, how long will it take Tyron to accumulate the $6355?  Round your answer to two decimal places, if necessary.\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #760959 by </B><A HREF=/tutors/aboutme.mpl?userid=Shin123><B>Shin123(626)</B></A><img src=\"/images/stars/stars-11.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Shin123><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=Shin123><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=760959\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 6% interest compounded monthly is 6/12=0.5% per month. So the equation is <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=5648%2A%281.005%29%5Ex=6355 ALIGN=MIDDLE  ALT=\"5648%2A%281.005%29%5Ex=6355\"   DISABLED_style= \"max-width:90%; height:auto;\" > Dividing, we get <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281.005%29%5Ex=1.125 ALIGN=MIDDLE  ALT=\"%281.005%29%5Ex=1.125\"   DISABLED_style= \"max-width:90%; height:auto;\" >. Solving for x, we have x=23.65 months. </SPAN>\n" );
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