document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=630197>Question 630197</A>: <I><SPAN STYLE=\"word-break: break-all;\"> $1,200 is deposited in an account that pays 6% annual interest, compounded quarterly. Find the balance after five years. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #396776 by </B><A HREF=/tutors/aboutme.mpl?userid=lwsshak3><B>lwsshak3(11628)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=lwsshak3><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=396776\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> $1,200 is deposited in an account that pays 6% annual interest, compounded quarterly. Find the balance after five years.<BR>\n" );
document.write( "**<BR>\n" );
document.write( "compound interest formula: <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=P%281%2Bi%29%5En ALIGN=MIDDLE  ALT=\"A=P%281%2Bi%29%5En\"   DISABLED_style= \"max-width:90%; height:auto;\" > , P=initial investment, i=interest rate per period, n=number of periods, A=amt after n periods.<BR>\n" );
document.write( "..<BR>\n" );
document.write( "For given problem:<BR>\n" );
document.write( "P=1200<BR>\n" );
document.write( "i=.06/4=.015<BR>\n" );
document.write( "n=5*4=20<BR>\n" );
document.write( "..<BR>\n" );
document.write( "A=1200(1+.015)^20<BR>\n" );
document.write( "A=1200(1.015)^20<BR>\n" );
document.write( "using calculator<BR>\n" );
document.write( "A&#8776;$1616 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );