document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=591829>Question 591829</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If $3000 is invested at an interest rate of 5% each year, find the amount of the investment at the end of 4 years for the following compounding methods.\r<BR>\n" );
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document.write( "B)semiannually, which is six months, but it is also half a year, so I'm not sure which variable this is, as well as what number it is. \r<BR>\n" );
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document.write( "Note: I know that the formula I need to use is this: A(t)= P[1+(r/n)]^nt <BR>\n" );
document.write( "Initially I tried plugging in the values: A(t)= 3000(1+0.05/4)^4, this was just a guess (this is one is for Annually though). I couldn't figure that one out, but since I think B) might be harder I tried that one. I had no success getting the right answer. I'd appreciate your help on this one, Thank you so much. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #375743 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><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=375743\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=P%281%2Br%2Fn%29%5E%28n%2At%29 ALIGN=MIDDLE  ALT=\"A=P%281%2Br%2Fn%29%5E%28n%2At%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Start with the compound interest formula\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=3000%281%2B0.05%2F2%29%5E%282%2A4%29 ALIGN=MIDDLE  ALT=\"A=3000%281%2B0.05%2F2%29%5E%282%2A4%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Plug in <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P=3000 ALIGN=MIDDLE  ALT=\"P=3000\"   DISABLED_style= \"max-width:90%; height:auto;\" >, <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r=0.05 ALIGN=MIDDLE  ALT=\"r=0.05\"   DISABLED_style= \"max-width:90%; height:auto;\" >, <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=n=2 ALIGN=MIDDLE  ALT=\"n=2\"   DISABLED_style= \"max-width:90%; height:auto;\" > (since we're compounding <u>twice</u> a year) and <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=t=4 ALIGN=MIDDLE  ALT=\"t=4\"   DISABLED_style= \"max-width:90%; height:auto;\" >.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=3000%281%2B0.025%29%5E%282%2A4%29 ALIGN=MIDDLE  ALT=\"A=3000%281%2B0.025%29%5E%282%2A4%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Evaluate <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=0.05%2F2 ALIGN=MIDDLE  ALT=\"0.05%2F2\"   DISABLED_style= \"max-width:90%; height:auto;\" > to get <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=0.025 ALIGN=MIDDLE  ALT=\"0.025\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=3000%281.025%29%5E%282%2A4%29 ALIGN=MIDDLE  ALT=\"A=3000%281.025%29%5E%282%2A4%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Add <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1 ALIGN=MIDDLE  ALT=\"1\"   DISABLED_style= \"max-width:90%; height:auto;\" > to <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=0.025 ALIGN=MIDDLE  ALT=\"0.025\"   DISABLED_style= \"max-width:90%; height:auto;\" > to get <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1.025 ALIGN=MIDDLE  ALT=\"1.025\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=3000%281.025%29%5E%288%29 ALIGN=MIDDLE  ALT=\"A=3000%281.025%29%5E%288%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Multiply <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=2 ALIGN=MIDDLE  ALT=\"2\"   DISABLED_style= \"max-width:90%; height:auto;\" > and <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=4 ALIGN=MIDDLE  ALT=\"4\"   DISABLED_style= \"max-width:90%; height:auto;\" > to get <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=8 ALIGN=MIDDLE  ALT=\"8\"   DISABLED_style= \"max-width:90%; height:auto;\" >.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=3000%281.21840289750992%29 ALIGN=MIDDLE  ALT=\"A=3000%281.21840289750992%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Evaluate <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281.025%29%5E%288%29 ALIGN=MIDDLE  ALT=\"%281.025%29%5E%288%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > to get <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1.21840289750992 ALIGN=MIDDLE  ALT=\"1.21840289750992\"   DISABLED_style= \"max-width:90%; height:auto;\" >.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=3655.20869252975 ALIGN=MIDDLE  ALT=\"A=3655.20869252975\"   DISABLED_style= \"max-width:90%; height:auto;\" > Multiply <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=3000 ALIGN=MIDDLE  ALT=\"3000\"   DISABLED_style= \"max-width:90%; height:auto;\" > and <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1.21840289750992 ALIGN=MIDDLE  ALT=\"1.21840289750992\"   DISABLED_style= \"max-width:90%; height:auto;\" > to get <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=3655.20869252975 ALIGN=MIDDLE  ALT=\"3655.20869252975\"   DISABLED_style= \"max-width:90%; height:auto;\" >.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=3655.21 ALIGN=MIDDLE  ALT=\"A=3655.21\"   DISABLED_style= \"max-width:90%; height:auto;\" > Round to the nearest hundredth (ie to the nearest penny).\r<BR>\n" );
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document.write( "So there is <font color=\"red\">$3655.21</font> in the account after 4 years (where $3000 is invested at an interest rate of 5% each year and it's compounded semiannually). </SPAN>\n" );
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