document.write( "Question 855952: Hi,
\n" ); document.write( "Can you show me how to get the correct answer and the formula that should be used for the following problem:\r
\n" ); document.write( "\n" ); document.write( "Is it more profitable to receive $2000 now or $3500 in 10 years? Assume that money can earn 6% interest compounded monthly.\r
\n" ); document.write( "\n" ); document.write( "Thank you in advance \n" ); document.write( "

Algebra.Com's Answer #515650 by ewatrrr(24785) $\"\"$ $\"About$

You can put this solution on YOUR website!

 
\n" );
document.write( "Hi,
\n" );
document.write( "
\n" );
document.write( "2000 in 10 years: 6% interest compounded monthly. 
\n" );
document.write( "
\n" );
document.write( "
\n" );
document.write( "Compare that to $3500 \n" );
document.write( "

\n" );