document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=735658>Question 735658</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If $5000 is deposited in an account paying 6% compounded annually how much will you have in the account in 4 years?\r<BR>\n" );
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document.write( "A=P(1+r/n)^nt </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #449500 by </B><A HREF=/tutors/aboutme.mpl?userid=nerdybill><B>nerdybill(7384)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=nerdybill><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=nerdybill><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=449500\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> If $5000 is deposited in an account paying 6% compounded annually how much will you have in the account in 4 years?\r<BR>\n" );
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document.write( "A=P(1+r/n)^(nt)<BR>\n" );
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document.write( "Where<BR>\n" );
document.write( "A is amount after time t (what we're looking for)<BR>\n" );
document.write( "P is initial amount (5000)<BR>\n" );
document.write( "r is rate (.06)<BR>\n" );
document.write( "n is times compounded in a year (1)<BR>\n" );
document.write( "t is number of years (4)<BR>\n" );
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document.write( "A=P(1+r/n)^(nt)<BR>\n" );
document.write( "A=5000(1+.06/1)^(1*4)<BR>\n" );
document.write( "A=5000(1+.06)^4<BR>\n" );
document.write( "A=5000(1.06)^4<BR>\n" );
document.write( "A=5000(1.26247696)<BR>\n" );
document.write( "A = $6312.38\r<BR>\n" );
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document.write( " </SPAN>\n" );
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