document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=287118>Question 287118</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Julie borrowed $400 for 1 year at 8% interest compounded quarterly. What is the compound interest?\r<BR>\n" );
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document.write( "I don't know how to work this probelm. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #208169 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=208169\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Julie borrowed $400 for 1 year at 8% interest compounded quarterly. <BR>\n" );
document.write( "What is the compound interest? <BR>\n" );
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document.write( "Interest = 400[(1+(0.08/4)^(4*1) - 400]<BR>\n" );
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document.write( "interest = 400[(1.02)^4 -1]<BR>\n" );
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document.write( "interest = 400[0.0824]<BR>\n" );
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document.write( "interest = $32.97<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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