document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1015331>Question 1015331</A>: <I><SPAN STYLE=\"word-break: break-all;\"> plzz solve this\r<BR>\n" );
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document.write( "At what rate can money be invested if $2,330 is equivalent to $2,547.86 paid 188 days later? (Do not round the intermediate calculations. Round your final answer to the nearest 0.01%.)\r<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 #631699 by </B><A HREF=/tutors/aboutme.mpl?userid=rothauserc><B>rothauserc(4718)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=rothauserc><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=rothauserc><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=631699\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> we use the following formula<BR>\n" );
document.write( "A = Pe^rt, where A is the amount after t years for principal P at rate r<BR>\n" );
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document.write( "note that t = 188/365 for this problem<BR>\n" );
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document.write( "2547.86 = 2330 * e^(r*(188/365))<BR>\n" );
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document.write( "e^(r*(188/365)) = 2547.86 / 2330 = 1.093502146<BR>\n" );
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document.write( "use definition of logarithms<BR>\n" );
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document.write( "(r*(188/365)) = ln(1.093502146)<BR>\n" );
document.write( "r = (365 * ln(1.093502146)) / 188<BR>\n" );
document.write( "r = 0.173541043<BR>\n" );
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document.write( "therefore the rate is 17.35% </SPAN>\n" );
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