document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=861337>Question 861337</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Future Value. What is the future value of<BR>\n" );
document.write( "a. $550 invested for 5 years at 14 percent compounded annually?<BR>\n" );
document.write( "b. $650 invested for 15 years at 14 percent compounded annually? \r<BR>\n" );
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document.write( "I am completely new to finance and would really appreciate a step-by-step breakdown as to try and get a better understanding of how to solve problems such as this.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #519016 by </B><A HREF=/tutors/aboutme.mpl?userid=rothauserc><B>rothauserc(4718)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=rothauserc><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=rothauserc><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=519016\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The formula to use is A = P(1+r/n)^nt<BR>\n" );
document.write( "a) P = 550, t = 5 years, r = .14, and n = 1<BR>\n" );
document.write( "A = 550(1 + .14/1)^(1*5) = $1058.98<BR>\n" );
document.write( "b) P = 650, t=15, r = .14, n = 1<BR>\n" );
document.write( "A = 650(1 + .14/1)^(1*15)= $4639.66\r<BR>\n" );
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