document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=193100>Question 193100</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I need help trying to solve this problem, Thanks\r<BR>\n" );
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document.write( "Problem : \r<BR>\n" );
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document.write( " What is the amount P that must be invested at interest rate 5.5% compounded daily to obtain the balance of A =$150000 in t years.\r<BR>\n" );
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document.write( "t = 1   P=?<BR>\n" );
document.write( "t= 10   P=?\r<BR>\n" );
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document.write( "Given is the interest rate formula A=P(1+(r/n))^nt   \r<BR>\n" );
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document.write( "Any help with this question will be greatly appreciated, thanks.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #144944 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><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=144944\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=P%281%2Br%2Fn%29%5E%28n%2At%29 ALIGN=MIDDLE  ALT=\"A=P%281%2Br%2Fn%29%5E%28n%2At%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >  Start with the compound interest formula\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=150000=P%281%2B0.055%2F365%29%5E%28365t%29 ALIGN=MIDDLE  ALT=\"150000=P%281%2B0.055%2F365%29%5E%28365t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >  Plug in <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=150000 ALIGN=MIDDLE  ALT=\"A=150000\"   DISABLED_style= \"max-width:90%; height:auto;\" >, <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r=0.055 ALIGN=MIDDLE  ALT=\"r=0.055\"   DISABLED_style= \"max-width:90%; height:auto;\" > (this is the decimal form of 5.5% interest), and <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=n=365 ALIGN=MIDDLE  ALT=\"n=365\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=150000=P%281%2B0.0001507%29%5E%28365t%29 ALIGN=MIDDLE  ALT=\"150000=P%281%2B0.0001507%29%5E%28365t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Divide. Note: this value is approximate. So all future calculations will be approximate.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=150000=P%281.0001507%29%5E%28365t%29 ALIGN=MIDDLE  ALT=\"150000=P%281.0001507%29%5E%28365t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Add\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=150000%2F%281.0001507%29%5E%28365t%29=P ALIGN=MIDDLE  ALT=\"150000%2F%281.0001507%29%5E%28365t%29=P\"   DISABLED_style= \"max-width:90%; height:auto;\" > Divide both sides by <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281.0001507%29%5E%28365t%29 ALIGN=MIDDLE  ALT=\"%281.0001507%29%5E%28365t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > to isolate \"P\".\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P=150000%2F%281.0001507%29%5E%28365t%29 ALIGN=MIDDLE  ALT=\"P=150000%2F%281.0001507%29%5E%28365t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Rearrange the equation\r<BR>\n" );
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document.write( "Now simply plug in the given values of \"t\" to find P:\r<BR>\n" );
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document.write( "t=1:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P=150000%2F%281.0001507%29%5E%28365t%29 ALIGN=MIDDLE  ALT=\"P=150000%2F%281.0001507%29%5E%28365t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Start with the given equation.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P=150000%2F%281.0001507%29%5E%28365%281%29%29 ALIGN=MIDDLE  ALT=\"P=150000%2F%281.0001507%29%5E%28365%281%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Plug in <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=t=1 ALIGN=MIDDLE  ALT=\"t=1\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P=150000%2F%281.0001507%29%5E%28365%29 ALIGN=MIDDLE  ALT=\"P=150000%2F%281.0001507%29%5E%28365%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Multiply\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P=150000%2F%281.0565420%29 ALIGN=MIDDLE  ALT=\"P=150000%2F%281.0565420%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Raise 1.0001507 to the 365th power to get 1.0565420\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P=141972.5860 ALIGN=MIDDLE  ALT=\"P=141972.5860\"   DISABLED_style= \"max-width:90%; height:auto;\" > Divide\r<BR>\n" );
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document.write( "So if you want to have $150,000 in the account in 1 year, you need to invest about $141,972.59 in the account.\r<BR>\n" );
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document.write( "I'll let you do the other value of t (it will follow the same procedure).\r<BR>\n" );
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document.write( " </SPAN>\n" );
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