document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=539721>Question 539721</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A person invests $100 in an account that pays interest monthly with an APR of 12%. How much is in the account after 20 years?<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #353696 by </B><A HREF=/tutors/aboutme.mpl?userid=jpg7n16><B>jpg7n16(66)</B></A><img src=\"/images/stars/stars-08.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jpg7n16><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=353696\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> To solve this question, you would use the following formula.<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=p%2A%28%281%2Bi%29%5En%29=+x ALIGN=MIDDLE  ALT=\"p%2A%28%281%2Bi%29%5En%29=+x\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "Your inputs would be as follows:<BR>\n" );
document.write( "P = initial principal = $100 (per the question)<BR>\n" );
document.write( "I = compounding rate; adjusting the given rate to a monthly figure, per the compounding frequency<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=i=12%2F12=1 ALIGN=MIDDLE  ALT=\"i=12%2F12=1\"   DISABLED_style= \"max-width:90%; height:auto;\" >; 1% or .01 <BR>\n" );
document.write( "N = number of compounding periods<BR>\n" );
document.write( "Since the account compounds monthly, this is straightfoward. How many months are there in 20 years?<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=n=12%2A20=240 ALIGN=MIDDLE  ALT=\"n=12%2A20=240\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "And finally, we can solve for X = future value = amount there will be in the account after 20 years. And the calculator says...<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=x=100%2A%28%281%2B.01%29%5E240%29=1089.26 ALIGN=MIDDLE  ALT=\"x=100%2A%28%281%2B.01%29%5E240%29=1089.26\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "X = $1,089.26 </SPAN>\n" );
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