document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1058424>Question 1058424</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If an investment of $2000 grows to $2633.62 in eight years with interest compounded annually, what is the interest rate? (Round your answer to one decimal place.) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #673475 by </B><A HREF=/tutors/aboutme.mpl?userid=solve_for_x><B>solve_for_x(190)</B></A><img src=\"/images/stars/stars-09.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=solve_for_x><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=673475\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Use the equation:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=FV+=+PV%281+%2B+r%2Fn%29%5E%28nt%29 ALIGN=MIDDLE  ALT=\"FV+=+PV%281+%2B+r%2Fn%29%5E%28nt%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "where FV is the future value, PV is the present value, r is the annual interest rate,<BR>\n" );
document.write( "n is the number of periods per year, and t is the number of years.\r<BR>\n" );
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document.write( "For this problem, FV = 2633.62, PV = 2000, n = 1, and t = 8, which gives:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=2633.62+=+2000%281+%2B+r%29%5E8 ALIGN=MIDDLE  ALT=\"2633.62+=+2000%281+%2B+r%29%5E8\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "Solving for r gives:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281+%2B+r%29%5E8+=+2633.62+%2F+2000 ALIGN=MIDDLE  ALT=\"%281+%2B+r%29%5E8+=+2633.62+%2F+2000\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=8%2Aln%281+%2B+r%29+=+ln%282633.62%2F2000%29 ALIGN=MIDDLE  ALT=\"8%2Aln%281+%2B+r%29+=+ln%282633.62%2F2000%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=ln%281+%2B+r%29+=+%281%2F8%29%2A+ln%282633.62%2F2000%29 ALIGN=MIDDLE  ALT=\"ln%281+%2B+r%29+=+%281%2F8%29%2A+ln%282633.62%2F2000%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=ln%281+%2B+r%29+=+0.0344 ALIGN=MIDDLE  ALT=\"ln%281+%2B+r%29+=+0.0344\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1+%2B+r+=+e%5E%280.0344%29 ALIGN=MIDDLE  ALT=\"1+%2B+r+=+e%5E%280.0344%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r+=++e%5E%280.0344%29+-+1 ALIGN=MIDDLE  ALT=\"r+=++e%5E%280.0344%29+-+1\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "r = 0.035 = 3.5% </SPAN>\n" );
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