document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=58890>Question 58890</A>: <I><SPAN STYLE=\"word-break: break-all;\"> if an investment of $14,000 grows to $15,300 in 21 years, what is the interest rate assuming quaterly compounding.<BR>\n" );
document.write( "your final answer must be in percent, accurate to 4 decimal places.\r<BR>\n" );
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document.write( "B. what is the interest rate if we use a simple interest?<BR>\n" );
document.write( "your final answer must be in percent, accurate to 4 decimal places </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #40402 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=40402\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> if an investment of $14,000 grows to $15,300 in 21 years, what is the interest rate assuming quaterly compounding.<BR>\n" );
document.write( "your final answer must be in percent, accurate to 4 decimal places.<BR>\n" );
document.write( "A=P(1+r/n)^(nt)<BR>\n" );
document.write( "15,300=14,000(1+r/4)(21*4)<BR>\n" );
document.write( "1.092857143.. = (1+r/4)^(44)<BR>\n" );
document.write( "Take the 44th root of both sides to get:<BR>\n" );
document.write( "1.002020117=1+(r/4)<BR>\n" );
document.write( "0.002020117=r/4<BR>\n" );
document.write( "r=0.00808046881<BR>\n" );
document.write( "rate = 0.8080%\r<BR>\n" );
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document.write( "B. what is the interest rate if we use a simple interest?<BR>\n" );
document.write( "your final answer must be in percent, accurate to 4 decimal places<BR>\n" );
document.write( "A=P(1+rt)^n<BR>\n" );
document.write( "15,300=14000(1+r*4)^21<BR>\n" );
document.write( "1.092857143=(1+r/4)^21<BR>\n" );
document.write( "Take the 21st root of both sides to get:<BR>\n" );
document.write( "1.004237309 = 1+r/4<BR>\n" );
document.write( "0.004237309=r/4<BR>\n" );
document.write( "r=0.169492369<BR>\n" );
document.write( "rate = 1.695%<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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