document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=817155>Question 817155</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If you invest $2,000 at a 5% interest, compounded semiannually, how much will you have in 10 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #492385 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=492385\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> If you invest $2,000 at a 5% interest, compounded semiannually, how much will you have in 10 years?<BR>\n" );
document.write( "***<BR>\n" );
document.write( "compound interest formula: A=P(1+i)^n, P=initial investment, i=interesr rate per period, n=number of periods, A=amount after n-periods.<BR>\n" );
document.write( "For given problem:<BR>\n" );
document.write( "P=2000<BR>\n" );
document.write( "i=.05/2=.025<BR>\n" );
document.write( "n=2*10=20<BR>\n" );
document.write( "..<BR>\n" );
document.write( "A=2000(1+.025)^20<BR>\n" );
document.write( "A=2000(1.025)^20<BR>\n" );
document.write( "A=$6554(rounded)<BR>\n" );
document.write( "how much will you have in 10 years? $6554<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );