document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1177041>Question 1177041</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long will it take ​$4,000 to grow to ​$23,000 if it is invested at ​7% compounded​ monthly?\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Homework question from Hans Beauvoir </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #805232 by </B><A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><B>ankor@dixie-net.com(22740)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><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=ankor@dixie-net.com><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=805232\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  How long will it take ​$4,000 to grow to ​$23,000 if it is invested at ​7% compounded​ monthly?<BR>\n" );
document.write( ":<BR>\n" );
document.write( "The compound interest formula: <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+P%281%2B%28r%2Fn%29%29%5E%28nt%29 ALIGN=MIDDLE  ALT=\"A+=+P%281%2B%28r%2Fn%29%29%5E%28nt%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >, where<BR>\n" );
document.write( "A = resulting amt after t time (23000)<BR>\n" );
document.write( "P = initial amt (4000)<BR>\n" );
document.write( "r = annual interest rate in decimal form (.07)<BR>\n" );
document.write( "n = no. of compounding period per yr (12)<BR>\n" );
document.write( "t = no. yrs<BR>\n" );
document.write( ":<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=4000%281%2B%28.07%2F12%29%29%5E%2812t%29+=+23000 ALIGN=MIDDLE  ALT=\"4000%281%2B%28.07%2F12%29%29%5E%2812t%29+=+23000\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281.005833%29%5E%2812t%29+=+23000%2F4000 ALIGN=MIDDLE  ALT=\"%281.005833%29%5E%2812t%29+=+23000%2F4000\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281.005833%29%5E%2812t%29+=+5.75 ALIGN=MIDDLE  ALT=\"%281.005833%29%5E%2812t%29+=+5.75\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "using logs<BR>\n" );
document.write( "12t*log(1.005833) = log(5.76)<BR>\n" );
document.write( "12t = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log%285.76%29%2Flog%281.005833%29 ALIGN=MIDDLE  ALT=\"log%285.76%29%2Flog%281.005833%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "12t = 301<BR>\n" );
document.write( "t = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=301%2F12 ALIGN=MIDDLE  ALT=\"301%2F12\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "t ~ 25 yrs 1 month </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );