document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1029105>Question 1029105</A>: <I><SPAN STYLE=\"word-break: break-all;\"> At the end of 2&#8203; years, P dollars invested at an interest rate r compounded annually increases to an&#8203; amount, A&#8203; dollars, given by the following formula.\r<BR>\n" );
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document.write( "A=P(1+r)2\r<BR>\n" );
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document.write( "Find the interest rate if &#8203;$128 increased to &#8203;$242 in 2 years. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #644153 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=644153\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Find the interest rate if &#8203;$128 increased to &#8203;$242 in 2 years<BR>\n" );
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document.write( "A(t) = P(1+(r/n))^(nt)<BR>\n" );
document.write( "242 = 128(1+(r/1))^(1*2)<BR>\n" );
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document.write( "(1+r)^2 = 1.8906<BR>\n" );
document.write( "1+r = 1.375<BR>\n" );
document.write( "rate = 0.375 = 37.5%<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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