document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=447099>Question 447099</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I need help with this question. Find the balance for $1,000 invested at a rate of 8% for four years if the interest is compunded quarterly. </SPAN>\n" );
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document.write( "Compound Interest Formula: <BR>\n" );
document.write( "A=P(1+r)^n<BR>\n" );
document.write( "P=Initial investment<BR>\n" );
document.write( "r=interest rate/period<BR>\n" );
document.write( "n=number of periods<BR>\n" );
document.write( "A=Investment worth after n periods<BR>\n" );
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document.write( "For given problem,<BR>\n" );
document.write( "P=1000<BR>\n" );
document.write( "r=.08/4=.02<BR>\n" );
document.write( "n=8*4=32<BR>\n" );
document.write( "A=1000(1+.02)^32<BR>\n" );
document.write( "A=$1884.54<BR>\n" );
document.write( "ans:<BR>\n" );
document.write( "$1000 invested at an annual interest rate of 8% compounded quarterly would be worth $1884.54 after 8 years </SPAN>\n" );
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