document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1111067>Question 1111067</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Javier wants to invest $6000 in a savings account. Determine the interest rate (simple interest) required for Javier 's investment to double in value in 14 years. Round your answer to the nearest tenth of a percent.\r<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 #726071 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=726071\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> rule of 70 is 70/14=5%<BR>\n" );
document.write( "P=6000(1+r)^14<BR>\n" );
document.write( "12000=6000(1+r)^14<BR>\n" );
document.write( "2=(1+r)^14<BR>\n" );
document.write( "ln2=14 ln(1+r)<BR>\n" );
document.write( "0.693=14 *ln(1+r)<BR>\n" );
document.write( ".0495=ln (1+r)<BR>\n" );
document.write( "raise everything to e power<BR>\n" );
document.write( "1.051=(1+r)<BR>\n" );
document.write( "r=0.051 or 5.1% </SPAN>\n" );
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