document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1107726>Question 1107726</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A sum of money lent out at simple interest amounts to 2200in one year and 2800 in 4 years .find the sum of money and rate of interest<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 #722806 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=722806\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> rate is r<BR>\n" );
document.write( "x(1+r)=2200<BR>\n" );
document.write( "x=2200/(1+r)<BR>\n" );
document.write( "we also know <BR>\n" );
document.write( "x(1+r)^4=2800<BR>\n" );
document.write( "substitute<BR>\n" );
document.write( "2200(1+r)^3=2800<BR>\n" );
document.write( "(1+r)^3=2800/2200=1.273<BR>\n" );
document.write( "1+r=1.084<BR>\n" );
document.write( "r=0.084 or 8.4% interest<BR>\n" );
document.write( "sum of money is 2200/(1.084)=$2030.06, rounding to end<BR>\n" );
document.write( "check by looking for 4 years at 8.4%=$2803, within rounding error. </SPAN>\n" );
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