document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=952144>Question 952144</A>: <I><SPAN STYLE=\"word-break: break-all;\"> What interest rate compounded monthly is required for an $8500 investment to triple in 5 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #581485 by </B><A HREF=/tutors/aboutme.mpl?userid=Alan3354><B>Alan3354(69443)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Alan3354><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/cgi-bin/show-face.mpl?user=Alan3354><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=581485\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> What interest rate compounded monthly is required for an $8500 investment to triple in 5 years?<BR>\n" );
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document.write( "5 yrs = 60 periods<BR>\n" );
document.write( "2*Amt = Amt*(1+r)^60<BR>\n" );
document.write( "2 = (1+r)^60  (The amount doesn't matter)<BR>\n" );
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document.write( "1+r =~ 1.011619<BR>\n" );
document.write( "r = 0.011609<BR>\n" );
document.write( "r = 1.1609% per month<BR>\n" );
document.write( "r = 13.943% per year </SPAN>\n" );
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