document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=64951>Question 64951</A>This question is from textbook <A HREF=http://www.amazon.com/exec/obidos/ASIN/0495012661/algebrahomeworkh>college algebra</A><BR>\n" );
document.write( ": <I><SPAN STYLE=\"word-break: break-all;\"> Money and interest problem.  Can anyone give me a hand?  Thanks!\r<BR>\n" );
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document.write( "$6000 invested for 5 years at 7% compound interest.  Find the final amound on deposit if the interest is compounded quarterly. \r<BR>\n" );
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document.write( "Thanks! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #45431 by </B><A HREF=/tutors/aboutme.mpl?userid=303795><B>303795(602)</B></A><img src=\"/images/stars/stars-11.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=303795><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=45431\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=Amount=Principal%2A%281%2Br%29%5En ALIGN=MIDDLE  ALT=\"Amount=Principal%2A%281%2Br%29%5En\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "r is the interest rate for one time period and n is the number of time periods. In this case compounding takes place quarterly  so the interest rate is 7/4 % (=1.75%) per quarter and there are 20 time periods in 5 years.<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=Amount=6000%2A%281%2B0.0175%29%5E20 ALIGN=MIDDLE  ALT=\"Amount=6000%2A%281%2B0.0175%29%5E20\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "=$8488.67 </SPAN>\n" );
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