document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=61674>Question 61674</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Please help !!!\r<BR>\n" );
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document.write( "a sum of 100,000 is invested in a bank at a rate of 6 % p.a .<BR>\n" );
document.write( "a)assume the amount of money invested for 5 years .\r<BR>\n" );
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document.write( "b)detemine the amountthat will be withdrawn if the compunding will be done \r<BR>\n" );
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document.write( "i) once a year    ii) monthly    iii) continously \r<BR>\n" );
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document.write( "formula ;\r<BR>\n" );
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document.write( "A = p ( 1+r) ^ n  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #42789 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=42789\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> a sum of 100,000 is invested in a bank at a rate of 6 % p.a .<BR>\n" );
document.write( "a)assume the amount of money invested for 5 years .<BR>\n" );
document.write( "For simple interest the formula is:<BR>\n" );
document.write( "A=P(1+rt)<BR>\n" );
document.write( "A=100,000(1+0.06*5)<BR>\n" );
document.write( "=100,000(1+0.30)<BR>\n" );
document.write( "=$130,000<BR>\n" );
document.write( "------------------ <BR>\n" );
document.write( "b)detemine the amount that will be withdrawn if the compunding will be done <BR>\n" );
document.write( "i) once a year ii) monthly iii) continously <BR>\n" );
document.write( "formula ;<BR>\n" );
document.write( "Formula for compound interest is:<BR>\n" );
document.write( "A=P(1+r/n)^(nt) <BR>\n" );
document.write( "i)once a year for 5 years<BR>\n" );
document.write( "A=100,000(1+0.06/1)^(1*5)<BR>\n" );
document.write( "A=100000(1.06)^5<BR>\n" );
document.write( "A=$133822.56 <BR>\n" );
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document.write( "ii) monthly for 5 years<BR>\n" );
document.write( "A=100,000(1+0.06/12)^(12*5)<BR>\n" );
document.write( "A=100000(1+0.005)^60<BR>\n" );
document.write( "A=$134885.02<BR>\n" );
document.write( "-----------------<BR>\n" );
document.write( "Formula for continuous compounding is:<BR>\n" );
document.write( "A=Pe^(rt)<BR>\n" );
document.write( "iii) continuously for 5 years<BR>\n" );
document.write( "A=100,000e^(0.06*5)<BR>\n" );
document.write( "A=100,000(1.349858808<BR>\n" );
document.write( "A=$134985.88<BR>\n" );
document.write( "----------<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( " </SPAN>\n" );
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