document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=382081>Question 382081</A>: <I><SPAN STYLE=\"word-break: break-all;\"> a sum of $5000 deposited in an account grows to $7000 in 5 years. assuming annual compounding, what interest rate is being paid? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #270910 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16946)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=270910\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> a sum of $5000 deposited in an account grows to $7000 in 5 years. assuming annual compounding, what interest rate is being paid?<BR>\n" );
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document.write( "Principal p= 5000<BR>\n" );
document.write( "Amount = 7000<BR>\n" );
document.write( "n= 5 years<BR>\n" );
document.write( "i= Interest rate <BR>\n" );
document.write( "q= compounding term<BR>\n" );
document.write( "..<BR>\n" );
document.write( "i = q([A/P]^(1/nq) - 1).\r<BR>\n" );
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document.write( "i=1*((7000/5000)^(1/5)-1)<BR>\n" );
document.write( "i= 6.96 %<BR>\n" );
document.write( "...<BR>\n" );
document.write( "m.ananth@hotmail.ca </SPAN>\n" );
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