document.write( "Question 202380: if $1,00 is deposited in a bank account that pays 4% interest compounded annually, what is the balance of the account after 5 years \n" ); document.write( "
Algebra.Com's Answer #152600 by dyakobovitch(40)\"\" \"About 
You can put this solution on YOUR website!
The formula for compounded annual interest is A=P(1+r)^t, with A= final amount, P= principal initial deposit, r= interest rate as a percent, and t= time in years.\r
\n" ); document.write( "\n" ); document.write( "So, we know that P=1, r=.04, and t= 5. \r
\n" ); document.write( "\n" ); document.write( "Substiuting in these values, we have A=1(1+.04)^5=\r
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Solved by pluggable solver: EXPLAIN simplification of an expression
Your Result:

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  • Graphical form: \"1%2A%281%2B.04%29%5E5\" simplifies to \"1.2166529024\"
  • Text form: 1*(1+.04)^5 simplifies to 1.2166529024
  • Cartoon (animation) form: \"simplify_cartoon%28+1%2A%281%2B.04%29%5E5+%29\"
    For tutors: simplify_cartoon( 1*(1+.04)^5 )
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  • If you have a website, here's a link to this solution.
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DETAILED EXPLANATION

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Look at \"highlight_red%28+1+%29%2A%281%2B.04%29%5E5\".
Remove extraneous '1' from product \"highlight_red%28+1+%29\"
It becomes \"%281%2B.04%29%5E5\".
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Look at \"%28highlight_red%28+1+%29%2Bhighlight_red%28+.04+%29%29%5E5\".
Replace constants in expression: \"highlight_red%28+1+%29\",\"highlight_red%28+.04+%29\" with \"highlight_green%28+1.04+%29\"
It becomes \"%28highlight_green%28+1.04+%29%29%5E5\".
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Look at \"highlight_red%28+%281.04%29+%29%5Ehighlight_red%28+5+%29\".
Replace constants in factor: \"highlight_red%28+%281.04%29+%29\",\"highlight_red%28+5+%29\" with \"highlight_green%28+1.2166529024+%29\"
It becomes \"highlight_green%28+1.2166529024+%29\".
Result: \"1.2166529024\"
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Universal Simplifier and Solver

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Done!
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