document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=853298>Question 853298</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I'm doing an interest problem and I would like some help please.  thanks.\r<BR>\n" );
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document.write( "Find the present value. Round to the nearest cent. To get $6,500 after 8 years at 10% compounded quarterly. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #514006 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16946)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=514006\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Principal P =	x												<BR>\n" );
document.write( "Amount=	6500												<BR>\n" );
document.write( "years=n	8												<BR>\n" );
document.write( "compounded	4	times a year											<BR>\n" );
document.write( "Rate =	10.00			(0.100	)								<BR>\n" );
document.write( "Amount =	P*((n+r)/n)^n												<BR>\n" );
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document.write( "6500	=	x	*(	1	+	r/n	)^	n					<BR>\n" );
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document.write( "6500	=	P	(	1	+	0.100	/	4	)	^	4	*	8<BR>\n" );
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document.write( "6500	=	P(	1.02500	)^	32								<BR>\n" );
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document.write( "6500	/(	1.03	)^	32	=	P							<BR>\n" );
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document.write( "P=	2949.51												<BR>\n" );
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document.write( " </SPAN>\n" );
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