document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=662053>Question 662053</A>: <I><SPAN STYLE=\"word-break: break-all;\"> FOR A SUM OF 8000 TO DOUBLE ITSELF IN 12 YRS. AND 9 MOS., WHAT MUST BE THE RATE OF INTEREST COMPOUNDED QUARTERLY<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #411931 by </B><A HREF=/tutors/aboutme.mpl?userid=lwsshak3><B>lwsshak3(11628)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=lwsshak3><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=411931\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> FOR A SUM OF 8000 TO DOUBLE ITSELF IN 12 YRS. AND 9 MOS., WHAT MUST BE THE RATE OF INTEREST COMPOUNDED QUARTERLY<BR>\n" );
document.write( "**<BR>\n" );
document.write( "compound interest formula: <BR>\n" );
document.write( "A=P(1+r)^n, r=interest rate per period, n=number of periods, P=initial investment, A=amt after n-periods.<BR>\n" );
document.write( "For given problem:<BR>\n" );
document.write( "A/P=(1+r)^n<BR>\n" );
document.write( "A/P=2<BR>\n" );
document.write( "r=to find<BR>\n" );
document.write( "12 yrs=4*12=48 quarters<BR>\n" );
document.write( "9 months=3 quarters<BR>\n" );
document.write( "n=48+3=51 quarters<BR>\n" );
document.write( "equation:<BR>\n" );
document.write( "(1+r)^n=A/P<BR>\n" );
document.write( "(1+r)^51=2<BR>\n" );
document.write( "raise both sides to (1/51)<BR>\n" );
document.write( "1+r=2^(1/51)<BR>\n" );
document.write( "r=2^(1/51)-1<BR>\n" );
document.write( "r&#8776;.0137/quarter<BR>\n" );
document.write( "or<BR>\n" );
document.write( "r&#8776;.0547/yr<BR>\n" );
document.write( "Rate of interest compounded quarterly&#8776;5.47% </SPAN>\n" );
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