document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1058001>Question 1058001</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Interest rate\r<BR>\n" );
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document.write( "How much money should be invested in an account that earns 9% interest, compounded monthly, in order to have $16,000 in 4 years? (Round your answer to two decimal places.) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #673022 by </B><A HREF=/tutors/aboutme.mpl?userid=addingup><B>addingup(3677)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=addingup><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=addingup><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=673022\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> you don't say, so I'll assume it's compounded annually:<BR>\n" );
document.write( "16,000 = x(1+0.09)^4<BR>\n" );
document.write( "16,000 = x(1.4116)<BR>\n" );
document.write( "x = 16,000/1.4116 <BR>\n" );
document.write( "x = 11,334.80 </SPAN>\n" );
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