document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=47379>Question 47379</A>: <I><SPAN STYLE=\"word-break: break-all;\"> At what interest rate must $5600 be compounded annually to equal $8687.44 after 9 yr? (Round to the nearest percent.)  <BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #31523 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=31523\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> At what interest rate must $5600 be compounded annually to equal $8687.44 after 9 yr? (Round to the nearest percent.)  \r<BR>\n" );
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document.write( "A=P(1+r/n)^(nt)<BR>\n" );
document.write( "8687.44 = 5600(1+r/1)^(1(9))<BR>\n" );
document.write( "1.55132857...=(1+r)^9<BR>\n" );
document.write( "Take the 9th root or use logarithms to solve.\r<BR>\n" );
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document.write( "1.050000003...=1+r<BR>\n" );
document.write( "r=0.05 or 5%\r<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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