document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=164145>Question 164145</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I can't figure this question out!  I think the formula is A= p (r +1) t, but I don't really know how to do it!\r<BR>\n" );
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document.write( "You've invested $5,000 in an account that earns .5% compounded per onth. The formula for compound interest gives us the equation a= 5,000(1.005)^n, where n is the number of compound periods and a is the amount of money in the account after n periods. Assuming there were no deposits or withdrawals, approximately how much money will be in the account after 10 years?\r<BR>\n" );
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document.write( "So far I have... a= 5,000(1.005)^120  (120 being the # of months in 10 years)\r<BR>\n" );
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document.write( "Is there an easier way to figure this out rather than try to multiply the number by itself 120 times?!<BR>\n" );
document.write( "Help!! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #120952 by </B><A HREF=/tutors/aboutme.mpl?userid=checkley77><B>checkley77(12844)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=checkley77><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=120952\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <BR>\n" );
document.write( "THE ONLY EASY WAY IS TO USE A CALCULATOR.<BR>\n" );
document.write( "P(1+R/M)^MT<BR>\n" );
document.write( "5000(1+.05/12)^12*10<BR>\n" );
document.write( "5000(1+.004167)^120<BR>\n" );
document.write( "5000(1.004167)^120<BR>\n" );
document.write( "5000*1.647=8235.05 </SPAN>\n" );
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