<PRE><B>Question 858982</B>
Three years ago Greg invested $1000 at a fixed interest rate compounded every 6 months. His investment is currently valued at $1400. What is the rate of interest he received? ( Round to 2 decimal places.) 
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3 yrs = 6 compounding periods
r = rate per 6 months
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1400 = 1000*(1 + r)^6
(1 + r)^6 = 1.4
6*log(1 + r) = log(1.4)
log(1 + r) = log(1.4)/6 =~ 0.024355
1 + r = 10^0.024355
r = 10^0.024355 - 1
r =~ 0.05768 per 6 months
Annual rate = 2*r = 0.11536
= 11.54% per year</PRE>