document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=322554>Question 322554</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 500 invested at 7% for 5 years compounded monthly  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #230937 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16946)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=230937\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 500 invested at 7% for 5 years compounded monthly<BR>\n" );
document.write( "A= P(1+r/12)^5<BR>\n" );
document.write( "A = accrued amount after 5 years<BR>\n" );
document.write( "p= principal<BR>\n" );
document.write( "r = rate of interest <BR>\n" );
document.write( "..<BR>\n" );
document.write( "A=500(1+0.05/12)^12*5<BR>\n" );
document.write( "A=708.81 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );