document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=288784>Question 288784</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Determine the amount of an investment if $15,000 is invested at an iterest of 4.85% compound quarterly for 5 years </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #209289 by </B><A HREF=/tutors/aboutme.mpl?userid=nyc_function><B>nyc_function(2741)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=nyc_function><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=nyc_function><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=209289\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Use the formula I = P(1 + r/4)^4, where P = 15,000 and r = 0.0485.\r<BR>\n" );
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document.write( "Plug into formula and simplify using your calculator.\r<BR>\n" );
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document.write( "We are searching for I or interest.\r<BR>\n" );
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document.write( "I = 15,000(1 + 0.0485/4)^4\r<BR>\n" );
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document.write( "Can you do it now?\r<BR>\n" );
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document.write( "NOTE: The number 4 represents interest every 4 months since this is a quarterly compounding question.\r<BR>\n" );
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