document.write( "Question 1121036: You want to buy a new car in four years which will cost you $64000. If you have $50000 in your bank account now, how much is nominal interest rate (compounded annually) to reach your goal? \n" ); document.write( "

Algebra.Com's Answer #736830 by ikleyn(52782) $\"\"$ $\"About$

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document.write( " =  = 1.28\r\n" );
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document.write( "1 + x =  = 1.0637. . . \r\n" );
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document.write( "x = 1.0637 - 1 = 0.0637\r\n" );
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document.write( "Answer.  The interest rate of 0.0637 = 6.4% (approximately).\r\n" );
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