document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=63518>Question 63518</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Use the compound interest formula A=p[1+r/n]^nt to compute the total after $3500.00 is invested at 8% over 5 years compounded daily (Usen=360). Then compute the interest earned. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #44221 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=44221\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Use the compound interest formula A=p[1+r/n]^nt to compute the total after $3500.00 is invested at 8% over 5 years compounded daily (Usen=360). Then compute the interest earned.<BR>\n" );
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document.write( "A=p[1+r/n]^nt <BR>\n" );
document.write( "A=3500[1+0.08/5]^(360*5)<BR>\n" );
document.write( "A=$8,968,965,440,000,000,00<BR>\n" );
document.write( "Interest = A-3500=2,562,561,551,000.00<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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