document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=736539>Question 736539</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I am having difficulty with this problem:\r<BR>\n" );
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document.write( "A gift of $6000 grew into $6,000,000 in 200 years. What is the interest rate if it is compounded annually? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #449882 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=449882\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A gift of $6000 grew into $6,000,000 in 200 years. What is the interest rate if it is compounded annually?<BR>\n" );
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document.write( "A(t) = P(1+(r/n))^(nt)<BR>\n" );
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document.write( "6 million = 6 thousand * (1+r)^(200)<BR>\n" );
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document.write( "1000 = (1+r)^200<BR>\n" );
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document.write( "200*log(1+r) = log(1000)<BR>\n" );
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document.write( "log(1+r) = 3/200<BR>\n" );
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document.write( "1+r = 10^(3/200)<BR>\n" );
document.write( "1+r = 1.035..<BR>\n" );
document.write( "rate = 0.035 = 3.5%<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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