document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1085039>Question 1085039</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 1)Joe wanted to purchase a new computer, so he invested $900 for 2 years. If he ended with an amount of $1100, what was the interest rate on joe's investment?\r<BR>\n" );
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document.write( "Please help me with this math questions along with the others\r<BR>\n" );
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document.write( "2) Jojo chooses to invest $20,000 for 4 years in a savings account, which offers an interest rate of 4%/yr. If the interest is compounded monthly, how much interest will jojo make after the 4 years?\r<BR>\n" );
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document.write( "3) George is investing in a savings account that offers an annual interest rate of 10% compounded weekly. What is the weekly rate of interest?\r<BR>\n" );
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document.write( "4) Determine the gross weekly income for the hours worked at a given rate. Overtime is double time for more than 36 hours worked. Bob works in a hat shop where he receives $450 a week plus 2.5% commission on the hats sold. Last week his hat sales totaled $12,500? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #699191 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=699191\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> \r<BR>\n" );
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document.write( "1)Joe wanted to purchase a new computer, so he invested $900 for 2 years. If he ended with an amount of $1100, what was the interest rate on joe's investment?\r<BR>\n" );
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document.write( "he invested 900 and has 1100 after 2 years.\r<BR>\n" );
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document.write( "if we assume compound interest, then f = p * (1+r) ^ n\r<BR>\n" );
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document.write( "f is the future value<BR>\n" );
document.write( "p is the present value<BR>\n" );
document.write( "r is the interest rate per time period<BR>\n" );
document.write( "n is the number of time periods.\r<BR>\n" );
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document.write( "if we assume the interest was compounded yearly, then we would use the following formula.\r<BR>\n" );
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document.write( "1100 = 900 * (1+r) ^ 2\r<BR>\n" );
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document.write( "solve for (1+r)^2 to get (1+r)^2 = 1100/900 = 1.222.....\r<BR>\n" );
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document.write( "solve for (1+r) to get (1+r) = (1.222.....)^(1/2) =  1.105541597...\r<BR>\n" );
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document.write( "subtract 1 from that and multiply it by 100% to get 10.5541597..... percent.\r<BR>\n" );
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document.write( "that's an annual interest rate of approximately 10.55%.\r<BR>\n" );
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document.write( "2) Jojo chooses to invest $20,000 for 4 years in a savings account, which offers an interest rate of 4%/yr. If the interest is compounded monthly, how much interest will jojo make after the 4 years? \r<BR>\n" );
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document.write( "f = p * (1+r) ^ n<BR>\n" );
document.write( "f is the future value<BR>\n" );
document.write( "p is the present value<BR>\n" );
document.write( "r is the interest rate per time period.<BR>\n" );
document.write( "n is the number of time periods.\r<BR>\n" );
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document.write( "the interest rate is 4% per year compounded monthly.<BR>\n" );
document.write( "divide 4% by 12 to get an interest rate of .333333......% per month.<BR>\n" );
document.write( "divide that by 100 to get an interest rate of .0033333..... per month.\r<BR>\n" );
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document.write( "the investment is for 4 years.<BR>\n" );
document.write( "since the interest rate is compounded monthly, multiply the number of years by 12 to get 48 months.\r<BR>\n" );
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document.write( "the formula becomes f = 20,000 * (1.0033333.....) ^ 48\r<BR>\n" );
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document.write( "solve for f go get f = 23,463.9734\r<BR>\n" );
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document.write( "round to 23,463.97\r<BR>\n" );
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document.write( "3) George is investing in a savings account that offers an annual interest rate of 10% compounded weekly. What is the weekly rate of interest? \r<BR>\n" );
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document.write( "there are 52 weeks in the year.<BR>\n" );
document.write( "divide 10% per year by 52 to get .1923076925 percent per week.\r<BR>\n" );
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document.write( "4) Determine the gross weekly income for the hours worked at a given rate. Overtime is double time for more than 36 hours worked. Bob works in a hat shop where he receives $450 a week plus 2.5% commission on the hats sold. Last week his hat sales totaled $12,500?\r<BR>\n" );
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document.write( "he makes $450 a week plus 2.5% commission on value of hats sold.\r<BR>\n" );
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document.write( "last week he sold 12,500 in hats.<BR>\n" );
document.write( ".025 * 12,500 = 312.5\r<BR>\n" );
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document.write( "he made 450 + 312.5 = 762.5 for the week.\r<BR>\n" );
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document.write( "this problem does not involve hours worked per week.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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