document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=174245>Question 174245</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Hello, can you please help me with this.  I have no idea of the steps I need to solve this.  Thanks so much!\r<BR>\n" );
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document.write( "4.  You have $760,000 in your bank account.  The interest rate in your account is 5%.  Solve for the following:\r<BR>\n" );
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document.write( "a.  How much interest will you accumulate if interest is compounded  annually over the next five years?\r<BR>\n" );
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document.write( "b. How much interest will you earn in your account over the next five years with continuous compounding?  You can use a scientific calculator or the =Exp() function in Microsoft Excel.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #129264 by </B><A HREF=/tutors/aboutme.mpl?userid=solver91311><B>solver91311(24713)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=solver91311><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/cgi-bin/show-face.mpl?user=solver91311><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=129264\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> For annual compounding:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=FV+=+P%281%2Br%29%5En ALIGN=MIDDLE  ALT=\"FV+=+P%281%2Br%29%5En\"   DISABLED_style= \"max-width:90%; height:auto;\" > where P is the principal amount, r is the interest rate per compounding period expressed as a decimal, and n is the number of compounding periods.\r<BR>\n" );
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document.write( "For your example:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P=760000 ALIGN=MIDDLE  ALT=\"P=760000\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r=0.05 ALIGN=MIDDLE  ALT=\"r=0.05\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=n=5 ALIGN=MIDDLE  ALT=\"n=5\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "You can just use your calculator, or type the following into a cell on a spreadsheet:\r<BR>\n" );
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document.write( "=760000*1.05^5\r<BR>\n" );
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document.write( "For continuous compounding:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=FV=Pe%5E%28rt%29 ALIGN=MIDDLE  ALT=\"FV=Pe%5E%28rt%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >, where P is the principal, e is the base of the natural logarithms, r is the annual rate, and t is the number of years.\r<BR>\n" );
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document.write( "Again, use your calculator or type the following into a cell on a spreadsheet:\r<BR>\n" );
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document.write( "=760000*exp(.05*5)\r<BR>\n" );
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document.write( " </SPAN>\n" );
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