document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=611709>Question 611709</A>: <I><SPAN STYLE=\"word-break: break-all;\"> bonnie received a severance package from her job two yrs ago that included $10,000. She put the cash into a 3 yr cd that was paying 5.5% compound monthly. How much more interest will she receive from having the money in the cd for 3yrs, than she would have from putting the money in a simple interest savings for three yrs that paid 5.5% </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #385140 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=385140\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> simple<BR>\n" );
document.write( "I=Prt<BR>\n" );
document.write( "I=10000*0.055*3<BR>\n" );
document.write( "I=$1,650<BR>\n" );
document.write( "--------------<BR>\n" );
document.write( "compounded<BR>\n" );
document.write( "A=10000(1+0.055/12)^3*12<BR>\n" );
document.write( "A=10000(1.004583)^36<BR>\n" );
document.write( "A=10000*1.178935<BR>\n" );
document.write( "A=11789.35<BR>\n" );
document.write( "I=11789.35-10000<BR>\n" );
document.write( "I=$1,1789.35 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );