document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=204085>Question 204085</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Please help me with this problem:\r<BR>\n" );
document.write( "\n" );
document.write( "Find the future value of the ordinary annuity. Interest is compounded annually, unless otherwise indicated. \r<BR>\n" );
document.write( "\n" );
document.write( "R = $100, i = 0.03, n = 15 </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #154019 by </B><A HREF=/tutors/aboutme.mpl?userid=feliz1965><B>feliz1965(151)</B></A><img src=\"/images/stars/stars-09.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=feliz1965><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=154019\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> We need the formula:\r<BR>\n" );
document.write( "\n" );
document.write( "A = P(1 + r/n)^(nt)\r<BR>\n" );
document.write( "\n" );
document.write( "Let R = P\r<BR>\n" );
document.write( "\n" );
document.write( "Let i = r\r<BR>\n" );
document.write( "\n" );
document.write( "Let n = 15\r<BR>\n" );
document.write( "\n" );
document.write( "Let t = 1 year\r<BR>\n" );
document.write( "\n" );
document.write( "We are looking for A.\r<BR>\n" );
document.write( "\n" );
document.write( "A = 100(1 + 0.03/15)^(15)(1 year)\r<BR>\n" );
document.write( "\n" );
document.write( "A = $103.04 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );