document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=245163>Question 245163</A>: <I><SPAN STYLE=\"word-break: break-all;\"> John deposits 10000 in a college trust fund in which i=6.4% compounded quarterly. How much $ would be in the account after 18 yrs.\r<BR>\n" );
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document.write( "#2 In an account which pays 6.5% compounded continuosly, how much $ would need to be deposited in order to rach 50000 in 15 yrs? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #179197 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=179197\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> John deposits 10000 in a college trust fund in which i=6.4% compounded quarterly. How much $ would be in the account after 18 yrs. <BR>\n" );
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document.write( "A(t) = P(1+(r/n))^(nt)<BR>\n" );
document.write( "A(18) = 10,000(1+(0.064/4))^(4*18)<BR>\n" );
document.write( "A(18) = 10,000(1+0.016)^72<BR>\n" );
document.write( "A(18) = 10,000*3.136<BR>\n" );
document.write( "A(18) = $31,360<BR>\n" );
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document.write( "#2 In an account which pays 6.5% compounded continuosly, how much $ would need to be deposited in order to rach 50000 in 15 yrs?<BR>\n" );
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document.write( "A(t) = Pe^(rt)<BR>\n" );
document.write( "50,000 = Pe^(0.065*15)<BR>\n" );
document.write( "50,000 = P(2.651)<BR>\n" );
document.write( "P = $18,859.62<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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