document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1170313>Question 1170313</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Jerod hopes to earn $800 in interest in 2 years time from $40,000 that he has available to invest.  To decide if it's feasible to do this by investing in an account that compounds quarterly, he needs to determine the annual interest rate such an account would have to offer for him to meet his goal.  What would the annual rate of interest have to be?  Round to two decimal places.\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 #795191 by </B><A HREF=/tutors/aboutme.mpl?userid=josgarithmetic><B>josgarithmetic(39630)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=josgarithmetic><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=795191\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> If r is for the QUARTERLY compounding period rate and for 8 periods (for the two years), then  <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=40000%281%2Br%29%5E8=40000%2B800 ALIGN=MIDDLE  ALT=\"40000%281%2Br%29%5E8=40000%2B800\"   DISABLED_style= \"max-width:90%; height:auto;\" >.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281%2Br%29%5E8=1.02 ALIGN=MIDDLE  ALT=\"%281%2Br%29%5E8=1.02\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1%2Br=1.02%5E%281%2F8%29 ALIGN=MIDDLE  ALT=\"1%2Br=1.02%5E%281%2F8%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r=1.02%5E%281%2F8%29-1 ALIGN=MIDDLE  ALT=\"r=1.02%5E%281%2F8%29-1\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r=0.002479 ALIGN=MIDDLE  ALT=\"r=0.002479\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "For YEARLY rate, 0.99% </SPAN>\n" );
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