document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1011176>Question 1011176</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Helen is saving to start a business. If she invests $10,000 in a savings account now, which of the following is the minimum interest rate required to ensure that she has $25,000 in her account in ten years time? Assume interest is compounded on an annual basis.\r<BR>\n" );
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document.write( "Select one:<BR>\n" );
document.write( "1. 2.5%<BR>\n" );
document.write( "2. 6.4%<BR>\n" );
document.write( "3. 9.6%<BR>\n" );
document.write( "4. 10.2%<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #626758 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=626758\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> P=Po{1+r}^10<BR>\n" );
document.write( "P/Po=2.5<BR>\n" );
document.write( "2.5=(1+r)^10<BR>\n" );
document.write( "ln both sides<BR>\n" );
document.write( "0.916=10ln(1+r)]<BR>\n" );
document.write( "no rounding<BR>\n" );
document.write( "divide by 10<BR>\n" );
document.write( "raise both sides to e power to remove ln,<BR>\n" );
document.write( "e^(0.0916)=1+r<BR>\n" );
document.write( "r=0.096, or 9.6%<BR>\n" );
document.write( "3.<BR>\n" );
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