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 #827895 by </B><A HREF=/tutors/aboutme.mpl?userid=MathTherapy><B>MathTherapy(10555)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=MathTherapy><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=MathTherapy><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=827895\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <BR>\n" );
document.write( "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.<BR>\n" );
document.write( "<PRE STYLE=\"white-space: pre-wrap; white-space: -moz-pre-wrap; white-space: -pre-wrap; white-space: -o-pre-wrap; word-wrap: break-word;\">Use the formula for Future Value of an amount that earns simple interest, which is: <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=matrix%282%2C3%2C+A%2C+%22=%22%2C+P%281+%2B+TR%29%2C+A%2FP%2C+%22=%22%2C+1+%2B+TR%29 ALIGN=MIDDLE  ALT=\"matrix%282%2C3%2C+A%2C+%22=%22%2C+P%281+%2B+TR%29%2C+A%2FP%2C+%22=%22%2C+1+%2B+TR%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r\n" );
document.write( "We then have: 2 = 1 + 14R ---- Substituting 2 for <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A%2FP ALIGN=MIDDLE  ALT=\"A%2FP\"   DISABLED_style= \"max-width:90%; height:auto;\" >, since the invested amount will double, and 14 for T (time, in years).\r\n" );
document.write( "Annual interest rate, or <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=highlight_green%28matrix%281%2C8%2C+R%2C+%22=%22%2C+1%2F14%2C+%22=%22%2C+%22.071428571%2C%22%2C+or%2C+highlight%28%227.1%25%22%29%2C+%22%28approximately%29%22%29%29 ALIGN=MIDDLE   DISABLED_style= \"max-width:90%; height:auto;\" ></PRE> </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );