document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=309747>Question 309747</A>: <I><SPAN STYLE=\"word-break: break-all;\"> you deposit $3000 in an account that pays 6% annual interest. find the balance after 2 years if the interest is compounded quarterly? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #221540 by </B><A HREF=/tutors/aboutme.mpl?userid=palanisamy><B>palanisamy(496)</B></A><img src=\"/images/stars/stars-10.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=palanisamy><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=221540\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> P = $ 3000<BR>\n" );
document.write( "r= 6% = .06<BR>\n" );
document.write( "the interest is compounded quarterly<BR>\n" );
document.write( "n= 2 years<BR>\n" );
document.write( "t = 4<BR>\n" );
document.write( "Total amount after two years = P(1+r/t)^nt<BR>\n" );
document.write( "=3000(1+.015)^8<BR>\n" );
document.write( "=$ 3379.48 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );