document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1160813>Question 1160813</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A 4000 investment earns interest at 4%/ yr compunded quarterly. How long will it take to double the value of the investment. Please show me 4 steps </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #784212 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=784212\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 4%/ yr compunded quarterly. How long will it take to double the value of the investment.<BR>\n" );
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document.write( "The amount doesn't matter.<BR>\n" );
document.write( "4%/year ---> 1%/quarter<BR>\n" );
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document.write( "FV = future value<BR>\n" );
document.write( "PV = present value<BR>\n" );
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document.write( "FV = 2*PV = PV*(1.01)^q  --- q = # of quarters<BR>\n" );
document.write( "2 = 1.01^q<BR>\n" );
document.write( "log(2) = log(1.01^q) = q*log(1.01)<BR>\n" );
document.write( "q = log(2)/log(1.01)<BR>\n" );
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