document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=201923>Question 201923</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Please Help:<BR>\n" );
document.write( "Find the compound amount for the deposit. Round to the nearest cent.\r<BR>\n" );
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document.write( "$300 at 7% compounded quarterly for 2 years<BR>\n" );
document.write( " A) $310.59<BR>\n" );
document.write( " B) $343.47<BR>\n" );
document.write( " C) $342.00<BR>\n" );
document.write( " D) $344.66<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #152149 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=152149\">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=A=300%281%2B0.07%2F4%29%5E%284%2A2%29 ALIGN=MIDDLE  ALT=\"A=300%281%2B0.07%2F4%29%5E%284%2A2%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Plug in <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=p=300 ALIGN=MIDDLE  ALT=\"p=300\"   DISABLED_style= \"max-width:90%; height:auto;\" > (the principle), <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r=0.07 ALIGN=MIDDLE  ALT=\"r=0.07\"   DISABLED_style= \"max-width:90%; height:auto;\" > (this is the decimal form of 7% interest), <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=n=4 ALIGN=MIDDLE  ALT=\"n=4\"   DISABLED_style= \"max-width:90%; height:auto;\" > (since it is compounded quarterly), and <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=t=2 ALIGN=MIDDLE  ALT=\"t=2\"   DISABLED_style= \"max-width:90%; height:auto;\" > (for 2 years)\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=300%281%2B0.0175%29%5E%284%2A2%29 ALIGN=MIDDLE  ALT=\"A=300%281%2B0.0175%29%5E%284%2A2%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Divide 0.07 by 4 to get 0.0175\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=300%281%2B0.0175%29%5E%288%29 ALIGN=MIDDLE  ALT=\"A=300%281%2B0.0175%29%5E%288%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Multiply the exponents 4 and 2 to get 8\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=300%281.0175%29%5E%288%29 ALIGN=MIDDLE  ALT=\"A=300%281.0175%29%5E%288%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Add 1 and 0.0175 to get 1.0175\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=300%281.14888%29 ALIGN=MIDDLE  ALT=\"A=300%281.14888%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Raise 1.0175 to the 8 th power to get 1.14888\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=344.664 ALIGN=MIDDLE  ALT=\"A=344.664\"   DISABLED_style= \"max-width:90%; height:auto;\" > Multiply 300 and 1.14888 to get 344.664\r<BR>\n" );
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document.write( "So if you invest $300 at an interest rate of 7%, which is compounded quarterly for 2 years,  the return is about $344.66 (which is rounded to the nearest cent)\r<BR>\n" );
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document.write( "So the answer is D) </SPAN>\n" );
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