document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=451527>Question 451527</A>: <I><SPAN STYLE=\"word-break: break-all;\"> use A=P(1+r/n) or A=Pe^rt to find the balance after 5 years for $1500 invested at 8% compounded quarterly. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #310507 by </B><A HREF=/tutors/aboutme.mpl?userid=lwsshak3><B>lwsshak3(11628)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=lwsshak3><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=310507\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> use A=P(1+r/n) or A=Pe^rt to find the balance after 5 years for $1500 invested at 8% compounded quarterly.<BR>\n" );
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document.write( "The first formula you listed is not written correctly. You forgot the exponent nt. Correctly written it should be: A=P(1+r/n)^nt, where P=initial investment, r=annual interest rate, n= times compounded per year, t=years, and A=amt accumulated after t years. This is the formula I will use.<BR>\n" );
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document.write( "A=1500(1+.08/4)^4*5<BR>\n" );
document.write( "A=1500(1.02)^20<BR>\n" );
document.write( "A=$2228.92<BR>\n" );
document.write( "ans:<BR>\n" );
document.write( "The balance after 5 years for $1500 invested at 8% compounded quarterly=$2228.92 </SPAN>\n" );
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