SOLUTION: if 5000 dollars is invested at 4% apr with interest compounded semiannually how long before the money doubles?

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Question 606651: if 5000 dollars is invested at 4% apr with interest compounded semiannually how long before the money doubles?
Answer by ewatrrr(24785) About Me  (Show Source):
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Hi,

5000 dollars is invested at 4% apr with interest compounded semiannually 

how long before the money doubles?

Note:  In General: A+=+P%281%2Br%2Fm%29%5Emt

A = Accumulated Amount 

P= principal 

r= annual rate = .04

m= periods per year = 2

t= years 

 A%2FP+=%281%2Br%2Fm%29%5Emt

A/P = 2  (doubling the money)

2=%281%2B.04%2F2%29%5E%282t%29

ln%282%29+%2F2ln%281.02%29+=+t

 t = 17.5 yrs