document.write( "Question 1193453: How long will it take for 74,500 to accumulate to 101,000 if the
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Algebra.Com's Answer #825479 by ikleyn(52781) $\"\"$ $\"About$

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\n" ); document.write( "How long will it take for 74,500 to accumulate to 101,000 if the
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document.write( "For the amount of $74,500, compounded quarterly, the future value formula is\r\n" );
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document.write( "    Future Value = \r\n" );
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document.write( "where n is the number of quarters.\r\n" );
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document.write( "Therefore, an equation to find \"n\" is\r\n" );
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document.write( "    101000 = \r\n" );
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document.write( "Divide both sides by 74500\r\n" );
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document.write( "     = ,\r\n" );
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document.write( "or\r\n" );
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document.write( "    1.355705 = .\r\n" );
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document.write( "Take logarithm base 10 of both sides\r\n" );
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document.write( "    log(1.355705) = n*log(1.02625)\r\n" );
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document.write( "and find \"n\" using your calculator\r\n" );
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document.write( "    n =  = 11.745  quarters.\r\n" );
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document.write( "Finally, round this value 11.745 to the nearest greater integer 12,\r\n" );
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document.write( "in order for the bank was in position to make the last compounding.\r\n" );
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document.write( "ANSWER. 12 quarters, or 12/4 = 3 years.\r\n" );
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\n" ); document.write( "\n" ); document.write( "To see many other similar (and different) solved problems, look into the lesson\r
\n" ); document.write( "\n" ); document.write( " - Problems on discretely compound accounts \r
\n" ); document.write( "\n" ); document.write( "in this site, and learn the subject from there.\r
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\n" ); document.write( "\n" ); document.write( "After reading this lesson, 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 lesson is 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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