document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=423950>Question 423950</A>: <I><SPAN STYLE=\"word-break: break-all;\"> maria deposited $1300 in a savings account that earns 7% interest compounded annually. Let p (t) be the balance in teh account after t years \r<BR>\n" );
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document.write( "1- Write an equation for the function P?\r<BR>\n" );
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document.write( "2- What is the balance in marias account agter 12 years?\r<BR>\n" );
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document.write( "3- How many yeas will it take teh account to be worth %6500? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #295617 by </B><A HREF=/tutors/aboutme.mpl?userid=linht117><B>linht117(37)</B></A><img src=\"/images/stars/stars-07.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=linht117><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=295617\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> ewhen a real-life quantity increases by a fixed percent each year (or other time period), the amount y of the quanitity after t years can be modeled by the equation: P = a(1+r)^t\r<BR>\n" );
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document.write( "1. P= 1300(1 + .07)^t<BR>\n" );
document.write( "2. P= 1300(1.07)^12 add the quantity first<BR>\n" );
document.write( "   P= 1300(2.252) muiltiply by exponent<BR>\n" );
document.write( "   p=2927.85<BR>\n" );
document.write( "3.approximately 24 years  \r<BR>\n" );
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