document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=518126>Question 518126</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How much interest is earned in 2 years on $4000 deposited in an account thats pays 6% interest, compounded quarterly? \r<BR>\n" );
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document.write( "I've come close to the answer but haven't reached the correct one. <BR>\n" );
document.write( "It would help to be shown a step by step process!  Thank you! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #345081 by </B><A HREF=/tutors/aboutme.mpl?userid=scott8148><B>scott8148(6628)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=scott8148><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/cgi-bin/show-face.mpl?user=scott8148><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=345081\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A = P (1 + r)^t\r<BR>\n" );
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document.write( "quarterly compounding means that there are 8 compoundings in 2 yr and the interest per period is 1.5% (6% / 4)\r<BR>\n" );
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document.write( "a = 4000 (1 + .015)^8 ___ this will give the accrued amount<BR>\n" );
document.write( "___ just subtract the 4000 to find the interest </SPAN>\n" );
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