document.write( "Question 710722: If I put $250 in an account that earns 7.5%, how much will there be in the account at the end of 15 years?
\n" ); document.write( "Could you help me with this problem please?
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Algebra.Com's Answer #437161 by tutor_paul(519)\"\" \"About 
You can put this solution on YOUR website!
You need to know the equation for future value of money for this problem. Once you know it, this problem is a piece of cake:\r
\n" ); document.write( "\n" ); document.write( "\"FV+=+PV%2A%281%2Br%29%5En\"\r
\n" ); document.write( "\n" ); document.write( "Where:
\n" ); document.write( "FV = Future Value
\n" ); document.write( "PV = Present Value
\n" ); document.write( "r = Annual Interest Rate
\n" ); document.write( "n = number of periods.\r
\n" ); document.write( "\n" ); document.write( "You have all this information, so just plug it in. (Note 7.5%=0.075)
\n" ); document.write( "\"FV=250%2A%281%2B.075%29%5E15\"
\n" ); document.write( "\"FV=250%2A%281.075%29%5E15\"
\n" ); document.write( "\"FV=250%2A2.96\"
\n" ); document.write( "\"highlight%28FV=739.72%29\"
\n" ); document.write( "Wow, $250 grew to almost $740! That's the \"miracle\" of compound interest. So start saving now!\r
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\n" ); document.write( "Good Luck,
\n" ); document.write( "tutor_paul@yahoo.com
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