document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1195415>Question 1195415</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Juan wants to invest $2600 in a savings account. Determine the interest rate (simple interest) required for Juan 's investment to double in value in 14 years. Round your answer to the nearest tenth of a percent. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #827890 by </B><A HREF=/tutors/aboutme.mpl?userid=jhunjiro><B>jhunjiro(67)</B></A><img src=\"/images/stars/stars-08.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jhunjiro><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/cgi-bin/show-face.mpl?user=jhunjiro><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=827890\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A = P (1 + rt)<BR>\n" );
document.write( "A	=	final amount<BR>\n" );
document.write( "P	=	initial principal balance<BR>\n" );
document.write( "r	=	annual interest rate<BR>\n" );
document.write( "t	=	time (in years)\r<BR>\n" );
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document.write( "Given:\r<BR>\n" );
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document.write( "A = $5200<BR>\n" );
document.write( "P = $2600<BR>\n" );
document.write( "r = ? <BR>\n" );
document.write( "t = 14 years\r<BR>\n" );
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document.write( "5200 = 2600 ( 1 + r(14)) divide both sides by 2600<BR>\n" );
document.write( "2 = 1 + 14r subtract 1 both sides<BR>\n" );
document.write( "1 = 14r divide both sides by 14<BR>\n" );
document.write( "1/14 = r \r<BR>\n" );
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document.write( "r = 0.07142857142857142857142857142857 multiply by 100 for percent<BR>\n" );
document.write( "r = 7.142857142857142857142857142857\r<BR>\n" );
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document.write( "rounded to the nearest tenth of a percent\r<BR>\n" );
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document.write( "r = 7.1 %\r<BR>\n" );
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document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );