document.write( "Question 1175334: How long will it take 1,000.00 to earn 300.00 if the interest is 12% compounded semi-annually? \n" ); document.write( "
Algebra.Com's Answer #800957 by ikleyn(52781)\"\" \"About 
You can put this solution on YOUR website!
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document.write( "A(t) = \"P%2A%281+%2B+r%2F2%29%5En\",  where P is the principal  and  n is the number of compound periods.\r\n" );
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document.write( "1300 = \"1000%2A%281%2B0.12%2F2%29%5En\"\r\n" );
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document.write( "\"1300%2F1000\" = \"1.06%5En\"\r\n" );
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document.write( "1.3 = \"1.06%5En\"\r\n" );
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document.write( "log(1.3) = n*log(1.06)\r\n" );
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document.write( "n = \"log%28%281.3%29%29%2Flog%28%281.06%29%29\" = 4.5  (approximately).\r\n" );
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document.write( "In order for the solution MAKES SENSE, it must be rounded to the NEAREST GREATER integer value\r\n" );
document.write( "(to have INTEGER NUMBER of compounds).\r\n" );
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document.write( "THEREFORE, the correct  ANSWER  is 5 semi-annual compounding periods,\r\n" );
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document.write( "which is 2.5 years.\r\n" );
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\n" ); document.write( "\n" ); document.write( "Solved.\r
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\n" ); document.write( "\n" ); document.write( "The answer by @ewatrrr is INCORRECT,\r
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\n" ); document.write( "\n" ); document.write( "To see many other similar solved problems,  look into the lessons\r
\n" ); document.write( "\n" ); document.write( "    - Compounded interest percentage problems \r
\n" ); document.write( "\n" ); document.write( "    - Problems on discretely compound accounts \r
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\n" ); document.write( "\n" ); document.write( "After reading these lessons, you will tackle such problems on your own without asking for help from outside.\r
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\n" ); document.write( "\n" ); document.write( "Also,  you have this free of charge online textbook in ALGEBRA-I in this site\r
\n" ); document.write( "\n" ); document.write( "    - ALGEBRA-I - YOUR ONLINE TEXTBOOK.\r
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\n" ); document.write( "\n" ); document.write( "The referred lessons are the part of this online textbook under the topic \"Logarithms\".\r
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\n" ); document.write( "\n" ); document.write( "Save the link to this online textbook together with its description\r
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\n" ); document.write( "\n" ); document.write( "Free of charge online textbook in ALGEBRA-I
\n" ); document.write( "https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson\r
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\n" ); document.write( "\n" ); document.write( "to your archive and use it when it is needed.\r
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\n" ); document.write( "\n" ); document.write( "Happy learning (!)\r
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