document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=843046>Question 843046</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I am stock with this problem please. I'm pregnant I can't sit too long and stand too long.I want to know how to solve and the formula of this. I did try many times I'm still wrong pls help. Thanks.<BR>\n" );
document.write( "What is the future value of $5000 in a bank account for 7 years at 8 percent compounded semiannually? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #507840 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><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=507840\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> We use the formula FV = PV*(1+r/n)^(n*t) where,\r<BR>\n" );
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document.write( "FV = future value (currently unknown)<BR>\n" );
document.write( "PV = present value (in this case, it's the amount invested, so PV = 5000)<BR>\n" );
document.write( "r = interest rate as a decimal (r = 8/100 = 0.08)<BR>\n" );
document.write( "n = compounding frequency (semiannual means twice a year, so n = 2)<BR>\n" );
document.write( "t = time in years (t = 7 years in this case)\r<BR>\n" );
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document.write( "Plug in PV = 5000, r = 0.08, n = 2, t = 7 into the formula to get...\r<BR>\n" );
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document.write( "FV = PV*(1+r/n)^(n*t)\r<BR>\n" );
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document.write( "FV = 5000*(1+0.08/2)^(2*7)\r<BR>\n" );
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document.write( "FV = 8658.38223801402 ... use a calculator here\r<BR>\n" );
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document.write( "FV = 8658.38 ... round to the nearest penny\r<BR>\n" );
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document.write( "So the future value is <font color=\"red\">$8,658.38</font> </SPAN>\n" );
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