document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=193776>Question 193776</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A business invests $8,000 in a savings account for two years.  At the beginning of the second year, an additional $2,500 is invested.  At the end of the second year, the account balance is $11,445.  What was the annual interest rate?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #145460 by </B><A HREF=/tutors/aboutme.mpl?userid=Mathtut><B>Mathtut(3670)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Mathtut><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=145460\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> the annual interest rate = r <BR>\n" );
document.write( "$8,000 in a savings account for two years.--> 8000*(1+r)^2<BR>\n" );
document.write( "beginning of the second year, an additional $2,500 is invested-->2500*(100+r)<BR>\n" );
document.write( "8000*(1+r)^2 + 2500*(1+r) = 11,445<BR>\n" );
document.write( "let 100+r = A<BR>\n" );
document.write( ":\r<BR>\n" );
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document.write( "8000*A^2 + 2500*A = 11,445:\r<BR>\n" );
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document.write( "8000*A^2 + 2500*A - 11,445 = 0:\r<BR>\n" );
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document.write( "A = 1.05<BR>\n" );
document.write( ":<BR>\n" );
document.write( "r = 0.05 or 5 % Ans. <BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );