document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=281450>Question 281450</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I am having trouble with this question can some one please help me <BR>\n" );
document.write( " <BR>\n" );
document.write( "I opened up a savings account today at Carthage Federal Savings and Loan with $800.00. If the yearly interest rate of 4% is compounded each month, how much interest will I earn in six months?\r<BR>\n" );
document.write( "\n" );
document.write( "Thank you for your help in advance.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( " </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #204442 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=204442\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> I opened up a savings account today at Carthage Federal Savings and Loan with $800.00. If the yearly interest rate of 4% is compounded each month, how much interest will I earn in six months? <BR>\n" );
document.write( "------------------<BR>\n" );
document.write( "A(t) = P(1+(r/n))^(nt)<BR>\n" );
document.write( "A(1/2) = 800(1+(0.04/12)^(12*(1/2))<BR>\n" );
document.write( "A(1/2) = 800(1+0.0033)^6<BR>\n" );
document.write( "A(1/2) = 800*1.02017<BR>\n" );
document.write( "A(1/2) = $816.13<BR>\n" );
document.write( "---------------------<BR>\n" );
document.write( "Interest is $16.13<BR>\n" );
document.write( "========================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );