document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=446300>Question 446300</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Heather  is Holtz planning a vacation in europe in 4 years, after graduation. She estimates that she will need 3,500 for the trip.\r<BR>\n" );
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document.write( "a. If her bank is offering 4- year certificates of deposit 8% interest compounded quarterly. How much Heather invested now to have the money for the trip?\r<BR>\n" );
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document.write( "b. how much compound interest will be earned on the investment?   </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #307402 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=307402\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Principal P =	x												<BR>\n" );
document.write( "Amount=	3500												<BR>\n" );
document.write( "years=n	4												<BR>\n" );
document.write( "compounded	4	times a year											<BR>\n" );
document.write( "Rate =	8.00										<BR>\n" );
document.write( "Amount =	P*((n+r)/n)^n														<BR>\n" );
document.write( "3500	=x*(1+r/n)^n	<BR>\n" );
document.write( "3500	=P(1+0.080)/4)^4*4<BR>\n" );
document.write( "3500=P(1.02000)^16								<BR>\n" );
document.write( "3500/(1.02)^16=	P							<BR>\n" );
document.write( "P=	2549.56												<BR>\n" );
document.write( " </SPAN>\n" );
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