document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=978607>Question 978607</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A car was valued at $31,000 in the year 1991. The value depreciated to $14,000 by the year 2007. \r<BR>\n" );
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document.write( "Use the compound interest formula S=P(1+r)^t to answer the following questions.\r<BR>\n" );
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document.write( "A) What was the annual rate of change between 1991 and 2007? <BR>\n" );
document.write( "r =  Round the rate of decrease to 4 decimal places.\r<BR>\n" );
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document.write( "B) What is the correct answer to part A written in percentage form? <BR>\n" );
document.write( "r =  %.\r<BR>\n" );
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document.write( "C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2010 ? <BR>\n" );
document.write( "value = $  Round to the nearest 50 dollars.\r<BR>\n" );
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document.write( "I have tried this following direct steps and i am not getting the right answer, i dont know if im completely doing it wrong or just rounding incorrectly. please  help! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #599996 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=599996\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 14000=31000(1+r)^16<BR>\n" );
document.write( "dividing 14,000 by 31000=0.45161, and that equals (1+r)^16<BR>\n" );
document.write( "ln of both sides<BR>\n" );
document.write( "-0.79493=16 ln(1+r)<BR>\n" );
document.write( "dividing by 16<BR>\n" );
document.write( "-0.04968=ln (1+r)<BR>\n" );
document.write( "raise both to e power<BR>\n" );
document.write( "0.95153=(1+r)<BR>\n" );
document.write( "r=-0.04847=  -0.0485\r<BR>\n" );
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document.write( "minus 4.85%<BR>\n" );
document.write( "14000=31000(0.95153)^19  ;;now the 19th power<BR>\n" );
document.write( "$12,061.15 or $12,100.  \r<BR>\n" );
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document.write( "I didn't round at the end, but if you are close to the answer, it is likely a rounding issue.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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