document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=628675>Question 628675</A>: <I><SPAN STYLE=\"word-break: break-all;\"> a person deposited $500 in a savings account that pays 5% annual interest that is compounded yearly. At the end of 10 years, how much money will be in the savings account?    i have the answer, the problem is i have to show the work with the formula you know like <BR>\n" );
document.write( "100+(a-1)+ 5 <BR>\n" );
document.write( "a2 3+40(3-1)<BR>\n" );
document.write( "I have always been a poor math student, not to mention I graduated high school 18 yrs. ago and have never experienced problems like these before. It is al confusing to me, and even more confusing having to do a formula. The answer I believe is 814.45, I got this using simple math, please show me the way it is written in the formula way. Thanks juanita<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 #395783 by </B><A HREF=/tutors/aboutme.mpl?userid=John10><B>John10(297)</B></A><img src=\"/images/stars/stars-09.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=John10><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=John10><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=395783\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> a person deposited $500 in a savings account that pays 5% annual interest that is compounded yearly. At the end of 10 years, how much money will be in the savings account.\r<BR>\n" );
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document.write( "Hi,\r<BR>\n" );
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document.write( "If you remember the formula:\r<BR>\n" );
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document.write( "A = P(1 + r/n)^(nt)\r<BR>\n" );
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document.write( "So we have P = $500, t = 10 years,, r = 5% or 0.05 , n = 1 (annually compound)\r<BR>\n" );
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document.write( "So we need to find A (compounded amount)\r<BR>\n" );
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document.write( "A = 500(1 + 0.05/1)^(1*10)<BR>\n" );
document.write( "  = 500(1.05)^10<BR>\n" );
document.write( "  = $814.45 which is what you found. Excellent job:)\r<BR>\n" );
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document.write( "John10 </SPAN>\n" );
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