document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=815543>Question 815543</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Hi i need help on this question, please help:<BR>\n" );
document.write( "Carol and Anthony will invest £5100 per year in a savings account at a rate of 4% per year compounded annually. How much will the JOINT total be after 5 years.\r<BR>\n" );
document.write( "\n" );
document.write( "Can someone please explain how to work it out or what formula to use.<BR>\n" );
document.write( "Thank you! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #491671 by </B><A HREF=/tutors/aboutme.mpl?userid=KMST><B>KMST(5328)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=KMST><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=KMST><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=491671\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> At the start, they deposit £5100.<BR>\n" );
document.write( "In the first year the interest earned is the initial balance at the start of that year (£5100) times the interest rate as a fraction or decimal<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%22%28+4+%25+=%22+ ALIGN=MIDDLE  ALT=\"%22%28+4+%25+=%22+\"   DISABLED_style= \"max-width:90%; height:auto;\" ><IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=4%2F100=0.04 ALIGN=MIDDLE  ALT=\"4%2F100=0.04\"   DISABLED_style= \"max-width:90%; height:auto;\" > .<BR>\n" );
document.write( "At the end of the first year, they will have the initial amount, plus the interest:5100<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%22%A3+5100+%2B+%A3%22 ALIGN=MIDDLE  ALT=\"%22%A3+5100+%2B+%A3%22\"   DISABLED_style= \"max-width:90%; height:auto;\" ><IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=5100%2A0.04=+%22%A3%22 ALIGN=MIDDLE  ALT=\"5100%2A0.04=+%22%A3%22\"   DISABLED_style= \"max-width:90%; height:auto;\" ><IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281%2B0.04%29=+%22%A3%22 ALIGN=MIDDLE  ALT=\"%281%2B0.04%29=+%22%A3%22\"   DISABLED_style= \"max-width:90%; height:auto;\" ><IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=5100%2A1.04 ALIGN=MIDDLE  ALT=\"5100%2A1.04\"   DISABLED_style= \"max-width:90%; height:auto;\" > .<BR>\n" );
document.write( "That means that in the first year the initial balance grows by a factor of <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1.04 ALIGN=MIDDLE  ALT=\"1.04\"   DISABLED_style= \"max-width:90%; height:auto;\" > .<BR>\n" );
document.write( "That happens no matter what the initial balance, and no matter what happened before.<BR>\n" );
document.write( " At the beginning of the second year, they deposit £5100 again,<BR>\n" );
document.write( "and end up with (in £)<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=5100%2A1.04%2B5100 ALIGN=MIDDLE  ALT=\"5100%2A1.04%2B5100\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "Over the second year that amount of money again multiplies times <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1.04 ALIGN=MIDDLE  ALT=\"1.04\"   DISABLED_style= \"max-width:90%; height:auto;\" > to get to<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%285100%2A1.04%2B5100%291.04=5100%2A1.04%5E2%2B5100%2A1.04 ALIGN=MIDDLE  ALT=\"%285100%2A1.04%2B5100%291.04=5100%2A1.04%5E2%2B5100%2A1.04\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "by the end of the second year.<BR>\n" );
document.write( " <BR>\n" );
document.write( "At the beginning of the third year, they deposit £5100 again,<BR>\n" );
document.write( "and end up with (in £)<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=5100%2A1.04%5E2%2B5100%2A1.04%2B5100 ALIGN=MIDDLE  ALT=\"5100%2A1.04%5E2%2B5100%2A1.04%2B5100\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "Over the third year that amount of money again multiplies times <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1.04 ALIGN=MIDDLE  ALT=\"1.04\"   DISABLED_style= \"max-width:90%; height:auto;\" > to get to<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%285100%2A1.04%5E2%2B5100%2A1.04%2B5100%291.04=5100%2A1.04%5E3%2B5100%2A1.04%5E2%2B5100%2A1.04 ALIGN=MIDDLE   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "by the end of the third year.<BR>\n" );
document.write( " <BR>\n" );
document.write( "The pattern continues, and by the end of the fifth year,their balance is<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=5100%2A1.04%5E5%2B5100%2A1.04%5E4%2B5100%2A1.04%5E3%2B5100%2A1.04%5E2%2B5100%2A1.04 ALIGN=MIDDLE  ALT=\"5100%2A1.04%5E5%2B5100%2A1.04%5E4%2B5100%2A1.04%5E3%2B5100%2A1.04%5E2%2B5100%2A1.04\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "=<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=5100%2A1.04%2A%281.04%5E4%2B1.04%5E3%2B1.04%5E2%2B1.04%2B1%29 ALIGN=MIDDLE  ALT=\"5100%2A1.04%2A%281.04%5E4%2B1.04%5E3%2B1.04%5E2%2B1.04%2B1%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "=<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=5100%2A1.04%2A%281.04%5E5-1%29%2F%281.04-1%29=5100%2A1.04%2A%281.04%5E5-1%29%2F0.04 ALIGN=MIDDLE  ALT=\"5100%2A1.04%2A%281.04%5E5-1%29%2F%281.04-1%29=5100%2A1.04%2A%281.04%5E5-1%29%2F0.04\"   DISABLED_style= \"max-width:90%; height:auto;\" > </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );