document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=491153>Question 491153</A>: <I><SPAN STYLE=\"word-break: break-all;\"> My parents opened an investment account 15 years ago, with an initial deposit of $5000. Today, that account is worth $39,533.32. What average annual rate of return did they earn on their investment? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #334490 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=334490\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> My parents opened an investment account 15 years ago, with an initial deposit of $5000. Today, that account is worth $39,533.32. What average annual rate of return did they earn on their investment?<BR>\n" );
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document.write( "A(t) = P(1 + rt)<BR>\n" );
document.write( "39,533.32 = 5000(1 + 15r)<BR>\n" );
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document.write( "7.9067 = 1 + 15r<BR>\n" );
document.write( "6.9067 = 15r<BR>\n" );
document.write( "r = 0.4604 = 46.04%<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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