document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=361331>Question 361331</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Hi, I was wondering if someone could possibly help me. I am supposed to do these homework questions in my Algebra class, but I am having a hard time getting started. I don't know what steps to go through to obtain the answer. The back of the book shows the answers, but that doesn't help me much. I need to show I got to the answer. If anyone could possibly assist me, by showing me how you obtained the answer, I would be forever grateful! :o) \r<BR>\n" );
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document.write( "(Section 11.1, Pg. 749, # 107)\r<BR>\n" );
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document.write( "Directions: In the following exercise use the compound interest formula<BR>\n" );
document.write( " A=P(1+r) ^t to find the annual interest rate, r. \r<BR>\n" );
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document.write( "In 2 years, an investment of $1280 grows to $1445. \r<BR>\n" );
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document.write( "the answer in the back of the book is: 6.25%, but I have no idea how they got this answer. Your help is forever appreciated!  :o)  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #257683 by </B><A HREF=/tutors/aboutme.mpl?userid=edjones><B>edjones(8007)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=edjones><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=edjones><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=257683\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A=P(1+r)^t<BR>\n" );
document.write( "1445=1280(1+r)^2<BR>\n" );
document.write( "(1+r)^2=289/256<BR>\n" );
document.write( "1+r=1.0625 square root of each side.<BR>\n" );
document.write( "r=.0625=6.25%<BR>\n" );
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document.write( "Ed </SPAN>\n" );
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