document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=253451>Question 253451</A>: <I><SPAN STYLE=\"word-break: break-all;\"> The formula for calculating the amount of money returned for an initial deposit into a bank account or CD (certificate of deposit) is given by<BR>\n" );
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document.write( "A is the amount of the return.<BR>\n" );
document.write( "P is the principal amount initially deposited.<BR>\n" );
document.write( "r is the annual interest rate (expressed as a decimal).<BR>\n" );
document.write( "n is the number of compound periods in one year.<BR>\n" );
document.write( "t is the number of years.\r<BR>\n" );
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document.write( "Carry all calculations to six decimals on each intermediate step, then round the final answer to the nearest cent.\r<BR>\n" );
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document.write( "Suppose you deposit $4,000 for 8 years at a rate of 7%.\r<BR>\n" );
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document.write( "a) 	Calculate the return (A) if the bank compounds annually (n = 1). Round your answer to the hundredth's place.\r<BR>\n" );
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document.write( "Answer:	\r<BR>\n" );
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document.write( "	Show work in this space. Use ^ to indicate the power or use the Equation Editor in MS Word.	\r<BR>\n" );
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document.write( "b) 	Calculate the return (A) if the bank compounds monthly (n = 12).  Round your answer to the hundredth's place.\r<BR>\n" );
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document.write( "	Answer:	\r<BR>\n" );
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document.write( "	Show work in this space\r<BR>\n" );
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document.write( "c)	If a bank compounds continuously, then the formula used is  <BR>\n" );
document.write( "where e is a constant and equals approximately 2.7183.<BR>\n" );
document.write( "Calculate A with continuous compounding. Round your answer to the hundredth's place.\r<BR>\n" );
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document.write( "Answer:	\r<BR>\n" );
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document.write( "	Show work in this space:	\r<BR>\n" );
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document.write( "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 #185781 by </B><A HREF=/tutors/aboutme.mpl?userid=richwmiller><B>richwmiller(17219)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=richwmiller><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/cgi-bin/show-face.mpl?user=richwmiller><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=185781\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> You mentioned the variables but never gave the formula.<BR>\n" );
document.write( "\"The formula for calculating the amount of money returned for an initial deposit into a bank account or CD (certificate of deposit) is given by\" </SPAN>\n" );
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