document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=248847>Question 248847</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If 5000 dollars is invested in a bank account at an interest rate of 4 per cent per year, find the amount in the bank after 10 years if interest is compounded annually<BR>\n" );
document.write( "Find the amount in the bank after 10 years if interest is compounded quaterly<BR>\n" );
document.write( "Find the amount in the bank after 10 years if interest is compounded monthly<BR>\n" );
document.write( "Finally, find the amount in the bank after 10 years if interest is compounded continuously \r<BR>\n" );
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document.write( "please help 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 #181333 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=181333\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> If 5000 dollars is invested in a bank account at an interest rate of 4 per cent per year, find the amount in the bank after 10 years if interest is compounded annually<BR>\n" );
document.write( "Find the amount in the bank after 10 years if interest is compounded quarterly<BR>\n" );
document.write( "A(10)=5000(1+(0.04/4))^(4*10)<BR>\n" );
document.write( "A(10)=5000(1.01)^(40) = $7444.32<BR>\n" );
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document.write( "Find the amount in the bank after 10 years if interest is compounded monthly<BR>\n" );
document.write( "A(10)=5000(1+(0.04/12))^(12*10) <BR>\n" );
document.write( "A(10)=5000(1.0033)^120 = $7424.50<BR>\n" );
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document.write( "Finally, find the amount in the bank after 10 years if interest is compounded continuously<BR>\n" );
document.write( "A(t)=Pe^(rt)<BR>\n" );
document.write( "A(10)=5000*e^(0.04*10)<BR>\n" );
document.write( "A(10)=5000(1.4918) = $7459.12 <BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( " </SPAN>\n" );
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