document.write( "Question 1183461: What interest rate is equivalent to an 11% discount rate in discounting amount for 3 years. \n" ); document.write( "
Algebra.Com's Answer #813820 by MathLover1(20850)\"\" \"About 
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\n" ); document.write( "\n" ); document.write( "Given : an \"11\"% discount rate in discounting amounts for \"3+\"years​\r
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\n" ); document.write( "\n" ); document.write( "To Find : Equivalent interest rate\r
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\n" ); document.write( "\n" ); document.write( "\"11\"% discount rate in discounting amounts\r
\n" ); document.write( "\n" ); document.write( "=> \"P+=+100-11+=+89\"\r
\n" ); document.write( "\n" ); document.write( " \"A+=+100\"\r
\n" ); document.write( "\n" ); document.write( " \"n+=+3\" Years\r
\n" ); document.write( "\n" ); document.write( "\"A+=+P+%281++%2B+R%2F100%29%5En\"\r
\n" ); document.write( "\n" ); document.write( " \"100+=+89+%28+1+%2B+R%2F100%29%5E3\"\r
\n" ); document.write( "\n" ); document.write( " \"100%2F89=+%28+1+%2B+R%2F100%29%5E3\"\r
\n" ); document.write( "\n" ); document.write( "\"1.123595505618=+%28+1+%2B+R%2F100%29%5E3\"\r
\n" ); document.write( "\n" ); document.write( " \"+root%283%2C1.123595505618%29+=+1+%2B+R%2F100\"\r
\n" ); document.write( "\n" ); document.write( "\"1.0396=+1+%2B+R%2F100\"\r
\n" ); document.write( "\n" ); document.write( "\"%281.0396-1%29100+=R+\"\r
\n" ); document.write( "\n" ); document.write( "\"R+=+3.96\" %\r
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\n" ); document.write( "\n" ); document.write( "answer: \"3.96\" % interest rate is equivalent to an \"11\"% discount rate in discounting amounts for \"3\" years​\r
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