document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=769309>Question 769309</A>: <I><SPAN STYLE=\"word-break: break-all;\"> if i invested $3805 in an account that pays 6.5% compounded weekly. What will be the balance in the account after two score years?_________________ </SPAN>\n" );
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document.write( "***<BR>\n" );
document.write( "compound interest formula: A=P(1+i)^n, P=initial investment, i=interest rate per compounding period, n=number of compounding periods, A=amount after n-periods.<BR>\n" );
document.write( "For given problem:<BR>\n" );
document.write( "P=$3805<BR>\n" );
document.write( "i=.065/52=0.00125<BR>\n" );
document.write( "n=40*52=2080 (one score=20 yrs)<BR>\n" );
document.write( "A=?<BR>\n" );
document.write( "..<BR>\n" );
document.write( "A=3805(1+.00125)^2080<BR>\n" );
document.write( "A=3805(1.00125)^2080&#8776;51146<BR>\n" );
document.write( "The balance in the account after two score years=$51,146 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );