document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=614070>Question 614070</A>: <I><SPAN STYLE=\"word-break: break-all;\">  Stu deposits $1400 in a savings account that pays 6% interest. How much money will he have after 8 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #386370 by </B><A HREF=/tutors/aboutme.mpl?userid=nerdybill><B>nerdybill(7384)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=nerdybill><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=nerdybill><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=386370\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">     Stu deposits $1400 in a savings account that pays 6% interest. How much money will he have after 8 years?<BR>\n" );
document.write( ".<BR>\n" );
document.write( "Interest formula:<BR>\n" );
document.write( "A = P(1+r)^t<BR>\n" );
document.write( "where<BR>\n" );
document.write( "A is amount after time t (what we're looking for)<BR>\n" );
document.write( "P is the principal (1400)<BR>\n" );
document.write( "r is the rate (.06)<BR>\n" );
document.write( "t is time (8)<BR>\n" );
document.write( ".<BR>\n" );
document.write( "A = 1400(1+.06)^8<BR>\n" );
document.write( "A = 1400(1.06)^8<BR>\n" );
document.write( "A = 1400(1.5938)<BR>\n" );
document.write( "A = $2231.39<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );