document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=816232>Question 816232</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Road Runner just bought stock in the new Acme bird feeder company. he invested $3000 and plans to double his money to $6000 in 5 years. What must be the interest rate be for Road to accomplish his goal? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #491419 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=491419\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Road Runner just bought stock in the new Acme bird feeder company. he invested $3000 and plans to double his money to $6000 in 5 years. What must be the interest rate be for Road to accomplish his goal?<BR>\n" );
document.write( "-------<BR>\n" );
document.write( "Assuming he invested at simple interest:<BR>\n" );
document.write( "A(t) = P(1+rt)<BR>\n" );
document.write( "6000 = 3000(1+r*5)<BR>\n" );
document.write( "1+5r = 2<BR>\n" );
document.write( "5r = 1<BR>\n" );
document.write( "r = 1/5 = 20%<BR>\n" );
document.write( "====================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "------------------- </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );