document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=541120>Question 541120</A>: <I><SPAN STYLE=\"word-break: break-all;\"> how do I find the amount of interest earned by the following deposits ? $23000 at 12% compounded monthly for 21/2 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #354060 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=354060\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> $23000 at 12% compounded monthly for 21/2 years?<BR>\n" );
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document.write( "A(t) = P(1+(r/n))^(nt)<BR>\n" );
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document.write( "A(21/2) = 23000(1+(0.12/12))^(12*(21/2))<BR>\n" );
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document.write( "A(21/2) = 2300(1+0.1)^(126)<BR>\n" );
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document.write( "A(21/2) = 2300*164239.77<BR>\n" );
document.write( "A(21/2) = 377,751,472.50<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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