document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=46797>Question 46797</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Calculate the amount in m years if a principal P is invested at a nominal annual interest rate of r compounded as given.  Round to the nearest cent.\r<BR>\n" );
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document.write( "P=$480, m=4, r=7% compounded quarterly.\r<BR>\n" );
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document.write( "I have tried several times using info I got from this website to work this problem, but come up with some really far-fetched answers.  Maybe I'm missing something along the way.  Can anyone give me some specifics on how to set this up?  Thanks! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #31028 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=31028\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> P=$480, m=4 yrs. , r=7% compounded quarterly.\r<BR>\n" );
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document.write( "A=P(1+r/4)^(4m)\r<BR>\n" );
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document.write( "A=480(1+0.07/4)^(4*4)<BR>\n" );
document.write( "A=480(1.0175)^16<BR>\n" );
document.write( "A=480*1.31992935<BR>\n" );
document.write( "A=$633.57<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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