document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=31437>Question 31437</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You invest $250 in your savings account at the end of each year and earn an average of 6% per year in interest. How much will you have in your savings account at the end of forty years?\r<BR>\n" );
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document.write( "My problem is not from a textbook but from an online personal finance course. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #18254 by </B><A HREF=/tutors/aboutme.mpl?userid=mukhopadhyay><B>mukhopadhyay(490)</B></A><img src=\"/images/stars/stars-10.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mukhopadhyay><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=18254\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> You will need to apply the formula A = P(1+r)^t where A is accumulated money after t years at the rate of r% per year compounded\r<BR>\n" );
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document.write( "So, Accumulated Money = 250(1+.06)^40 .. gives you the answer\r<BR>\n" );
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document.write( "If interest rate is simple, the formula is A = P(1+rt).  In that case Accumulated money would have been 250(1+.06*40) </SPAN>\n" );
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