document.write( "Question 128716This question is from textbook
\n" ); document.write( ": I think I'm missing an integral piece... can you give me a hand?\r
\n" ); document.write( "\n" ); document.write( "Using the formula: A=P(1+r)^2\r
\n" ); document.write( "\n" ); document.write( "In order for $1000.00 to increase to $1440.00 in 2 years, what is the interest rate?\r
\n" ); document.write( "\n" ); document.write( "Thanks.
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Algebra.Com's Answer #94163 by Earlsdon(6294)\"\" \"About 
You can put this solution on YOUR website!
The formula for compound interest is:
\n" ); document.write( "\"A+=+P%281%2Bi%29%5En\" where A = present amount, P = the principal invested, i = the interest rate (expressed as a decimal), and n = the number of years.
\n" ); document.write( "You may also see this written:
\n" ); document.write( "\"A+=+P%281%2Br%29%5Et\"
\n" ); document.write( "In your problem, you will substitute A = $1,440.00, P = $1,000.00, and n = 2 years. So make the appropriate substitiutions and solve for r.
\n" ); document.write( "\"1440+=+1000%281%2Br%29%5E2\" Divide both sides by 1000
\n" ); document.write( "\"1.44+=+%281%2Br%29%5E2\" Take the square root of both sides.
\n" ); document.write( "\"1.2+=+1%2Br\" Subtract 1 from both sides.
\n" ); document.write( "\"0.2+=+r\" Multiply by 100 to convert to percent.
\n" ); document.write( "r = 20%
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