Question

A gift of $9000 to a city grew to $4000000 in 200 years. At what interest rate compounded annually would this growth occur?

Answer 1

\[9000(1+r)^{200}=4000000\]solve for \(r\)

Answer 2

\[(1+r)^{200}=\frac{4000}{9}\]
\[1+r=\sqrt[200]{\frac{4000}{9}}\] and now a calculator

Answer 3

do i dstribute my 9000 to the 1 and the r first

Answer 4

no

Answer 5

ohok

Answer 6

it is \(9000(1+r)^{200}\) you cannot distribute

Answer 7

ok... subtract my 9000 to both sides right

Answer 8

divide both side by 9000

Answer 9

the power of 200 confuses me

Answer 10

that gives \((1+r)^{200}=\frac{4000}{9}\)

Answer 11

yes, it should
you have to take the 200th root here is the answer
http://www.wolframalpha.com/input/?i=%284000%2F9%29^%281%2F200%29

Answer 12

you get \(1+r=1.0309\) so \(r=.0309\)

Answer 13

i missed the sqrt part of ur message

Answer 14

or as a percent about \(3.1\%\)