document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1182420>Question 1182420</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How long will it take $3,000 to grow to $14,000 if it is invested at 5% compounded monthly?\r<BR>\n" );
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document.write( "How many years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #853597 by </B><A HREF=/tutors/aboutme.mpl?userid=CPhill><B>CPhill(2189)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=CPhill><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=CPhill><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=853597\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Find number of years<BR>\n" );
document.write( "Principal P = 3000<BR>\n" );
document.write( "Amount= 14000<BR>\n" );
document.write( "years=n<BR>\n" );
document.write( "compounded (t) 12<BR>\n" );
document.write( "Rate = 5 0.004166667<BR>\n" );
document.write( "Amount = P*((n+r)/n)^n\r<BR>\n" );
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document.write( "14000 = 3000 *( 1 + 0.004166667 )^ n*t<BR>\n" );
document.write( "4.666666667 = *( 1 + 0.004166667 )^ n* 12<BR>\n" );
document.write( "log 4.666666667 = 12 n *log 1.004166667<BR>\n" );
document.write( "1.540445041 = 12 0.00415801 *n<BR>\n" );
document.write( "30.87 = n<BR>\n" );
document.write( "30.87 years </SPAN>\n" );
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