document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=181026>Question 181026</A>This question is from textbook <A HREF=http://www.amazon.com/exec/obidos/ASIN/0618163832/algebrahomeworkh>Algebra 1 COncepts and skills</A><BR>\n" );
document.write( ": <I><SPAN STYLE=\"word-break: break-all;\"> I dont really understand how to find the balance or what the interest is ?<BR>\n" );
document.write( "using this formula y = C(1+r)t </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #135692 by </B><A HREF=/tutors/aboutme.mpl?userid=josmiceli><B>josmiceli(19441)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=josmiceli><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=josmiceli><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=135692\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The formula for interest is:<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=I+=+C%2Ar%2At ALIGN=MIDDLE  ALT=\"I+=+C%2Ar%2At\"   DISABLED_style= \"max-width:90%; height:auto;\" > where<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=C ALIGN=MIDDLE  ALT=\"C\"   DISABLED_style= \"max-width:90%; height:auto;\" > = principle<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r ALIGN=MIDDLE  ALT=\"r\"   DISABLED_style= \"max-width:90%; height:auto;\" > = the rate<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=t ALIGN=MIDDLE  ALT=\"t\"   DISABLED_style= \"max-width:90%; height:auto;\" > = time<BR>\n" );
document.write( "Example:<BR>\n" );
document.write( "You invest $1,000 at an annual interest rate of 3%<BR>\n" );
document.write( "After 2 years:<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=I+=+1000%2A.03%2A2 ALIGN=MIDDLE  ALT=\"I+=+1000%2A.03%2A2\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=I+=+60 ALIGN=MIDDLE  ALT=\"I+=+60\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "So, you make $60 in interest after 2 years<BR>\n" );
document.write( "--------------------<BR>\n" );
document.write( "You got the formula wrong. It should be:<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=y+=+C%281+%2B+rt%29 ALIGN=MIDDLE  ALT=\"y+=+C%281+%2B+rt%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "To understand, you should factor it. <BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=y+=+C+%2B+Crt ALIGN=MIDDLE  ALT=\"y+=+C+%2B+Crt\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "What this says is:<BR>\n" );
document.write( "(Principle + Interest) = (Principle) + (Interest)<BR>\n" );
document.write( "The <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=C ALIGN=MIDDLE  ALT=\"C\"   DISABLED_style= \"max-width:90%; height:auto;\" > is principle<BR>\n" );
document.write( "The <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=Crt ALIGN=MIDDLE  ALT=\"Crt\"   DISABLED_style= \"max-width:90%; height:auto;\" > is interest<BR>\n" );
document.write( "-------------------------<BR>\n" );
document.write( "Continuing with the example,<BR>\n" );
document.write( "You invest $1,000 at an annual interest rate of 3% for 2 years<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=y+=+C%281+%2B+rt%29 ALIGN=MIDDLE  ALT=\"y+=+C%281+%2B+rt%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=y+=+1000%281+%2B+.03%2A2%29 ALIGN=MIDDLE  ALT=\"y+=+1000%281+%2B+.03%2A2%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=y+=+1000%281+%2B+.06%29 ALIGN=MIDDLE  ALT=\"y+=+1000%281+%2B+.06%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=y+=+1000%2A1.06 ALIGN=MIDDLE  ALT=\"y+=+1000%2A1.06\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=y+=+1060 ALIGN=MIDDLE  ALT=\"y+=+1060\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1060 ALIGN=MIDDLE  ALT=\"1060\"   DISABLED_style= \"max-width:90%; height:auto;\" > is what you invested + the interest the money earned<BR>\n" );
document.write( "after 2 years at 3% <BR>\n" );
document.write( "  </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );