document.write( "Question 623632: If $3,800 is invested in a savings account for which interest is compounded quarterly, and if the $3,800 turns into $4,300 in 2 years, what is the interest rate of the savings account?\r
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Algebra.Com's Answer #392188 by ewatrrr(24785) $\"\"$ $\"About$

You can put this solution on YOUR website!

 
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document.write( "Hi,  
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document.write( " In General 
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document.write( "A = Accumulated Amount $4,300
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document.write( "P= principal = $3,800
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document.write( "r= annual rate = .
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document.write( "n= periods per year = 4
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document.write( "t= years = 2
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document.write( " log(43/38) =8 log(1 + r/4)
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document.write( "      .0067 = log(1 + r/4)
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document.write( "    10^(.0067) = 1 + r/4    | Solve for r  \n" );
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