document.write( "Question 1193208: Ginette invests $12,000 in an account paying compound interest for 2 years.
\n" ); document.write( "In the first year the rate of interest is x%
\n" ); document.write( "At the end of the first year, the value of Ginette's investment is $12,336.\r
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Algebra.Com's Answer #825216 by ikleyn(52786)\"\" \"About 
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document.write( "To find the interest rate x in the first year, divide 12336 dollars by 12000 dollars. You will get\r\n" );
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document.write( "    \"12336%2F12000\" = 1.028.\r\n" );
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document.write( "Thus the effective growth coefficient is 1.028.  Hence, the annual compound interest in the first year is 2.8%.\r\n" );
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document.write( "In the second year, the annual interest rate is half of it, i.e.  0.028/2 = 0.014,\r\n" );
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document.write( "or the growth multiplicative coefficient of the compound interest in the second year is 1.014.\r\n" );
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document.write( "Hence, the amount after the second year will be\r\n" );
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document.write( "    12336*1.014 = 12508.70  dollars.     ANSWER\r\n" );
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\n" ); document.write( "\n" ); document.write( "To see many other similar  (and different)  solved problems on compounded interest accounts,  look into the lesson\r
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