document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=855005>Question 855005</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose you began making annual investments several years ago in a mutual fund in order to save for retirement. You initially invested $1000 and increased the amount by 3% per year as your salary rose. Shares of the fund initially cost $50 each and have been increasing in price by 12% each year. Write a rule for the amount invested in year (n) then a rule for the share price in year n at the time you invested. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #516006 by </B><A HREF=/tutors/aboutme.mpl?userid=richwmiller><B>richwmiller(17219)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=richwmiller><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=richwmiller><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=516006\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Tn = T1 * r^(n - 1)<BR>\n" );
document.write( "invested<BR>\n" );
document.write( "Tn = 1000 * 1.03^(n - 1)<BR>\n" );
document.write( "Tn = 970.874 *1.03^n<BR>\n" );
document.write( "shares<BR>\n" );
document.write( "Tn = 50 * 1.12^(n - 1)<BR>\n" );
document.write( "Tn = 44.6429* 1.12^n<BR>\n" );
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