document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=507996>Question 507996</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A man bought 50 thousand Australian Dollars in January 2007 at A$1 = S$1.2789 and put it in a bank that pays a compound interest of 7.6% per annum compounded every 3 months.\r<BR>\n" );
document.write( "\n" );
document.write( "a. How much A$ will he have in the bank account in January 2007 ?\r<BR>\n" );
document.write( "\n" );
document.write( "My answer ::<BR>\n" );
document.write( "A = 50000(1+7.6/400)^8<BR>\n" );
document.write( "A= A$ 58125.07\r<BR>\n" );
document.write( "\n" );
document.write( "b. He exchanged all the A$ into S$ in January 2009 at the rate of A$1 = S$0.9876. Calculate the amount gain/loss for the investment, giving your answer in S$ correct to the nearest 50 cents.\r<BR>\n" );
document.write( "\n" );
document.write( "I can't get part b correctly. I've tried to convert both AS$50k and A$58125.07 into S$ using both rate in Jan 2007 and 2009. But I still can't get it correctly. Please help me :) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #340830 by </B><A HREF=/tutors/aboutme.mpl?userid=rfer><B>rfer(16322)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=rfer><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=340830\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A=50000(1+0.076/4)^8<BR>\n" );
document.write( "A=50000(1.019)^8<BR>\n" );
document.write( "A=5000*1.1625<BR>\n" );
document.write( "A=58,125.07 (A$)<BR>\n" );
document.write( "-------------<BR>\n" );
document.write( "58125.07/0.9876=58,854.80 ($US) </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );