document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=858606>Question 858606</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If $4000 is borrowed at a rate of 4.75% interest per year, compounded quarterly, find the amount due at the end of the given number of years. (Round your answers to the nearest cent.) \r<BR>\n" );
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document.write( "a) 5 years\r<BR>\n" );
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document.write( "b) 7 years\r<BR>\n" );
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document.write( "c) 9 years </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #517279 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=517279\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> If $4000 is borrowed at a rate of 4.75% interest per year, compounded quarterly, find the amount due at the end of the given number of years. (Round your answers to the nearest cent.) <BR>\n" );
document.write( "a) 5 years <BR>\n" );
document.write( "b) 7 years <BR>\n" );
document.write( "c) 9 years<BR>\n" );
document.write( "***<BR>\n" );
document.write( "Compound interest formula: A=P(1+i)^n, P=initial investment, interest rate per period, A=amount after n periods.<BR>\n" );
document.write( "For given problem:<BR>\n" );
document.write( "P=$4000<BR>\n" );
document.write( "i=.0475/4 (quarterly compounding)<BR>\n" );
document.write( "n=(4 periods/year), 20, 28, or 36<BR>\n" );
document.write( "...<BR>\n" );
document.write( "n=20(5 yrs)<BR>\n" );
document.write( "A=4000(1+(.0475/4))^20=4000*1.2663=5065.21<BR>\n" );
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document.write( "n=28(7 yrs)<BR>\n" );
document.write( "A=4000(1+(.0475/4))^28=4000*1.3917=5566.88<BR>\n" );
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document.write( "n=36(9 yrs)<BR>\n" );
document.write( "A=4000(1+(.0475/4))^36=4000*1.5296=6118.25<BR>\n" );
document.write( "...<BR>\n" );
document.write( "amount due at the end of:<BR>\n" );
document.write( "a) 5 years=$5065.21<BR>\n" );
document.write( "b) 7 years=$5566.88 <BR>\n" );
document.write( "c) 9 years=$6118.25<BR>\n" );
document.write( " </SPAN>\n" );
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