document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1177589>Question 1177589</A>: <I><SPAN STYLE=\"word-break: break-all;\"> After what period is the interest generated equal to the original principal if the account pays 6% compounded daily? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #806653 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16946)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=806653\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Let Principal be 100<BR>\n" );
document.write( "Amount (FV) =200<BR>\n" );
document.write( "interest = 6%<BR>\n" );
document.write( "compounded daily\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Amount =	P*((n+r)/n)^n							<BR>\n" );
document.write( "								<BR>\n" );
document.write( "200	=	100	*(	1	+	0.005	)^	n*t<BR>\n" );
document.write( "2	=	*(	1	+	0.005	)^	n*	12<BR>\n" );
document.write( "ln	2	=	12	n *ln	1.005			<BR>\n" );
document.write( "	0.693147181	=	12	0.004987542	*n			<BR>\n" );
document.write( "	11.58	=	n	<BR>\n" );
document.write( "11.58 years				\r<BR>\n" );
document.write( "\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );