document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=202203>Question 202203</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Hi can someone please help me solve for this, and or let me know if I'm on the right track? It is from the Financial Management: Principles and Applications text by Keown Chapter 5, question 5-1A:\r<BR>\n" );
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document.write( "(Compound interest) To what amount will the following investments accumulate?\r<BR>\n" );
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document.write( "a. $5,000 invested for 10 years at 10 percent compounded annually\r<BR>\n" );
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document.write( "Answer: 889,527.07\r<BR>\n" );
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document.write( "b. $8,000 invested for 7 years at 8 percent compounded annually<BR>\n" );
document.write( "c. $775 invested for 12 years at 12 percent compounded annually<BR>\n" );
document.write( "d. $21,000 invested for 5 years at 5 percent compounded annually\r<BR>\n" );
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document.write( "Is the answer I have for a.) correct? If not can you please explain what I did wrong and how I would do the other ones?\r<BR>\n" );
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document.write( "Thank you </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #152468 by </B><A HREF=/tutors/aboutme.mpl?userid=rfer><B>rfer(16322)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=rfer><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=152468\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> I am sending you A) so you can get started. I will look at the others.<BR>\n" );
document.write( "Good rule of thumb is 10% interest doubles in seven years, so you can tell your answer is way off.<BR>\n" );
document.write( "a)A=P*(1+r/n)^rt<BR>\n" );
document.write( "A=5000(1.10)^10<BR>\n" );
document.write( "A=5000(2.59374)<BR>\n" );
document.write( "A=$12,968.71<BR>\n" );
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document.write( "b) A=8000(1+.08/1)^(1*7)<BR>\n" );
document.write( "A=8000(1.08)^7<BR>\n" );
document.write( "A=8000(1.713824269)<BR>\n" );
document.write( "A=$13,710.59<BR>\n" );
document.write( "--------------------<BR>\n" );
document.write( "c) A=775(1+.12/1)^(1*12)<BR>\n" );
document.write( "A=775(1.12)^12<BR>\n" );
document.write( "A=775(3.895975993)<BR>\n" );
document.write( "A=$3019.38<BR>\n" );
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document.write( "d) A=21000(1+.05/1)^(1*5)<BR>\n" );
document.write( "A=21000(1.05)^5<BR>\n" );
document.write( "A=21000(1.276281563)<BR>\n" );
document.write( "A=$26,801.19\r<BR>\n" );
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document.write( " </SPAN>\n" );
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