document.write( "Question 108305: A principal of $5000 was invested in a savings account for 4 years.
\n" ); document.write( "If the interest earned for the period was $400, what was the annual interest rate?
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Algebra.Com's Answer #78963 by Fombitz(32388)\"\" \"About 
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I'm assuming compound interest, annually for 4 years.
\n" ); document.write( "\"A=P%281%2Br%29%5Et\"
\n" ); document.write( "Where A is the value at the end of 4 years.
\n" ); document.write( "\"5000%2B400=5000%281%2Br%29%5Et\"A equals original amount plus interest.
\n" ); document.write( "\"5400=5000%281%2Br%29%5E4\"Divide both sides by 5000.
\n" ); document.write( "\"1.08=%281%2Br%29%5E4\"Simplify.
\n" ); document.write( "\"1.0194=1%2Br\"Take the fourth root of both sides.
\n" ); document.write( "\"r=.0194\"
\n" ); document.write( "The interest rate is 1.94%.
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