document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=118249>Question 118249</A>This question is from textbook <A HREF=http://www.amazon.com/exec/obidos/ASIN/9780073314655/algebrahomeworkh>investments</A><BR>\n" );
document.write( ": <I><SPAN STYLE=\"word-break: break-all;\"> Hello, I am trying to solve for the rate\r<BR>\n" );
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document.write( "980(1+r)^20 = 3725.37\r<BR>\n" );
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document.write( "I know the answer is 6.9% but I can't figure out how to get the answer on my own, any help would be greatly appreciated.   </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #86344 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=86344\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 980(1+r)^20 = 3725.3<BR>\n" );
document.write( "(1+r)^20 = 3.8013<BR>\n" );
document.write( "Take the 20th root of both sides to get:<BR>\n" );
document.write( "1+r = 1.0690<BR>\n" );
document.write( "r = 0.0609<BR>\n" );
document.write( "r = 6.09%<BR>\n" );
document.write( "=============<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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