document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=144533>Question 144533</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find the rate that a bank offers if $1000 is tripled in 8 years. Assume the interest is compounded quarterly. Using this formula  <BR>\n" );
document.write( "         nt<BR>\n" );
document.write( "a=p(1+r/t)<BR>\n" );
document.write( "                                         <BR>\n" );
document.write( "this is what I got so far       \r<BR>\n" );
document.write( "\n" );
document.write( "a=3p<BR>\n" );
document.write( "p=1000<BR>\n" );
document.write( "r=?<BR>\n" );
document.write( "n=4<BR>\n" );
document.write( "t=8<BR>\n" );
document.write( "         4(8)<BR>\n" );
document.write( "3p=p(1+r/t)<BR>\n" );
document.write( "         32<BR>\n" );
document.write( "3=(1+r/4)<BR>\n" );
document.write( "         32<BR>\n" );
document.write( "3=1.25r<BR>\n" );
document.write( "do I take the log of both sides??<BR>\n" );
document.write( "I'm lost </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #105296 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=105296\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Find the rate that a bank offers if $1000 is tripled in 8 years. Assume the interest is compounded quarterly. Using this formula :<BR>\n" );
document.write( "a = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=p%281%2Br%2Fn%29%5E%28nt%29 ALIGN=MIDDLE  ALT=\"p%281%2Br%2Fn%29%5E%28nt%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "where<BR>\n" );
document.write( "n = 4<BR>\n" );
document.write( "t = 8<BR>\n" );
document.write( "Since they just want to find out at what rate it triples just assign:<BR>\n" );
document.write( "a = 3<BR>\n" );
document.write( "p = 1<BR>\n" );
document.write( ":<BR>\n" );
document.write( "Write it:<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1%2A%281%2Br%2F4%29%5E%284%2A8%29 ALIGN=MIDDLE  ALT=\"1%2A%281%2Br%2F4%29%5E%284%2A8%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 3<BR>\n" );
document.write( "or just:<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281%2Br%2F4%29%5E32 ALIGN=MIDDLE  ALT=\"%281%2Br%2F4%29%5E32\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 3<BR>\n" );
document.write( "Find the log of both sides:<BR>\n" );
document.write( "log<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%28%281%2Br%2F4%29%5E32%29 ALIGN=MIDDLE  ALT=\"%28%281%2Br%2F4%29%5E32%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = log(3)<BR>\n" );
document.write( ":<BR>\n" );
document.write( "The log equiv of exponents<BR>\n" );
document.write( "32*log<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281%2Br%2F4%29 ALIGN=MIDDLE  ALT=\"%281%2Br%2F4%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = log(3)<BR>\n" );
document.write( ":<BR>\n" );
document.write( "Find the log of 3<BR>\n" );
document.write( "32*log<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281%2Br%2F4%29 ALIGN=MIDDLE  ALT=\"%281%2Br%2F4%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = .477121<BR>\n" );
document.write( ":<BR>\n" );
document.write( "Divide both sides by 32:<BR>\n" );
document.write( "log<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281%2Br%2F4%29 ALIGN=MIDDLE  ALT=\"%281%2Br%2F4%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=.477121%2F32 ALIGN=MIDDLE  ALT=\".477121%2F32\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( ":<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281%2Br%2F4%29 ALIGN=MIDDLE  ALT=\"%281%2Br%2F4%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = .01491<BR>\n" );
document.write( ";<BR>\n" );
document.write( "Find <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=10%5Ex ALIGN=MIDDLE  ALT=\"10%5Ex\"   DISABLED_style= \"max-width:90%; height:auto;\" > of .01491 on a calc:<BR>\n" );
document.write( "1 + <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r%2F4 ALIGN=MIDDLE  ALT=\"r%2F4\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 1.0349<BR>\n" );
document.write( ":<BR>\n" );
document.write( "Subtract 1 from both sides:<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r%2F4 ALIGN=MIDDLE  ALT=\"r%2F4\"   DISABLED_style= \"max-width:90%; height:auto;\" > = .0349<BR>\n" );
document.write( ":<BR>\n" );
document.write( "Multiply both sides by 4:<BR>\n" );
document.write( "r = .0349 * 4<BR>\n" );
document.write( ":<BR>\n" );
document.write( "r = .1397 or 13.97 ~ 14%<BR>\n" );
document.write( ":<BR>\n" );
document.write( ":<BR>\n" );
document.write( "Check solution on a calc: enter (1+(14/4))^32 = 3.0067 ~ 3 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );