document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=439412>Question 439412</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If a nurse deposits $10,000 today in a bank account and the interest is compounded annually at 12%, what will the value of the investment be nine years from now? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #303647 by </B><A HREF=/tutors/aboutme.mpl?userid=shantalboodram><B>shantalboodram(15)</B></A><img src=\"/images/stars/stars-06.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=shantalboodram><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=shantalboodram><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=303647\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> F = P ( 1 + r/n)^(n x t)<BR>\n" );
document.write( "F = final amount<BR>\n" );
document.write( "P = principal amount (initial investment) = $10,000<BR>\n" );
document.write( "r = annual nominal interest rate (as a decimal) = 12% = 0.12<BR>\n" );
document.write( "n = number of times the interest is compounded per year = 1<BR>\n" );
document.write( "t = number of years = 9\r<BR>\n" );
document.write( "\n" );
document.write( "Therefore F = 10000( 1 + 0.12/1)^(1 x 9)<BR>\n" );
document.write( "F = $27730.79 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );