document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=748067>Question 748067</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Debra borrowed $8000 at a rate of 11%, compounded semiannually. Assuming she makes no payments, how much will she owe after 5 years. do not round any intermediate computations and round your answer to the nearest cent </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #455308 by </B><A HREF=/tutors/aboutme.mpl?userid=lwsshak3><B>lwsshak3(11628)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=lwsshak3><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=455308\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Debra borrowed $8000 at a rate of 11%, compounded semiannually. Assuming she makes no payments, how much will she owe after 5 years. do not round any intermediate computations and round your answer to the nearest cent.<BR>\n" );
document.write( "***<BR>\n" );
document.write( "Compound interest formula: A=P(1+i)^n, P=initial investment, i=interest rate per period, n=number of periods.<BR>\n" );
document.write( "For given problem:<BR>\n" );
document.write( "P=8000<BR>\n" );
document.write( "i=.11/2=.055<BR>\n" );
document.write( "n=5*2=10<BR>\n" );
document.write( "A=amt after n periods<BR>\n" );
document.write( "..<BR>\n" );
document.write( "A=8000(1+.055)^10<BR>\n" );
document.write( "A=8000(1.055)^10<BR>\n" );
document.write( "A=$13,665.16<BR>\n" );
document.write( "After 5 years, Brenda will owe $13,665.16<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );