document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=462523>Question 462523</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You place $2000 in an aggressive bank account. How much will be in your account after 21 years if your money grows by 45% every 3 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #317154 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=317154\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> You place $2000 in an aggressive bank account. How much will be in your account after 21 years if your money grows by 45% every 3 years<BR>\n" );
document.write( "..<BR>\n" );
document.write( "compound interest formula: A=P(1+r)^n, P=initial investment, r=interest rate per period. n=number of periods, A= initial investment after n years<BR>\n" );
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document.write( "for given problem:<BR>\n" );
document.write( "Initial investment=2000<BR>\n" );
document.write( "nterest rate per period=45%<BR>\n" );
document.write( "number of periods=21/3=7<BR>\n" );
document.write( "A=2000(1+.45)^7<BR>\n" );
document.write( "=2000(1.45)^7=26953<BR>\n" );
document.write( "ans:<BR>\n" );
document.write( "After 21 years, $26,953, will be in your account </SPAN>\n" );
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