document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=436853>Question 436853</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I have an investment of $1500.  After 4 years, it becomes $1700.  The number of compounding periods are 360.  What is my rate?\r<BR>\n" );
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document.write( "I do not know how to go from my last step and find an answer.\r<BR>\n" );
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document.write( "This is what I have so far, but do not know how to go from here.  It is very confusing to me.\r<BR>\n" );
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document.write( "1700=1500(1+ r/360)^360 x 4<BR>\n" );
document.write( "1700=1500(1+ r/360)^1280<BR>\n" );
document.write( "ln(1+r/360)^1280=ln(17/15)<BR>\n" );
document.write( "1280ln(1+r/360)=ln(17/15)<BR>\n" );
document.write( "ln(1+r/360)=ln(17/15) all over 1280<BR>\n" );
document.write( "           =1/1280ln(17/15)<BR>\n" );
document.write( "           =ln(17/15)^1/1280<BR>\n" );
document.write( "r=360[((17/15)^1/1280)-1]<BR>\n" );
document.write( "This is where I do not understand how to go.  I have tried to divide 17 by 15 giving me 1.13, then taking that to the power of 1/1280, giving me 8.9, then subtracting 1, which gives me a -.9991145833.   </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #302209 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=302209\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  I have an investment of $1500. After 4 years, it becomes $1700. The number of compounding periods are 360. What is my rate? <BR>\n" );
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document.write( "If in 4 years you are compounding 360 times, you are<BR>\n" );
document.write( "compounding 90 times each year.  That is \"n\" in the<BR>\n" );
document.write( "compounding formula.<BR>\n" );
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document.write( "A(t) = P(1+(r/n))^(nt)<BR>\n" );
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document.write( "1700 = 1500(1+r/90))^(90*4)<BR>\n" );
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document.write( " 17/15 = (1+(r/90)^(360)<BR>\n" );
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document.write( "Take the 360 root of both sides to get:<BR>\n" );
document.write( "1+(r/90) = 1.000348<BR>\n" );
document.write( "r/90 = 0.000348<BR>\n" );
document.write( "rate = 0.0313<BR>\n" );
document.write( "rate = 3.13%<BR>\n" );
document.write( "=====================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "===================== </SPAN>\n" );
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