document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=864444>Question 864444</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find the balance after 15 years if $37, 000 is invested at an annual interest rate of 2.85% compounded monthly. Round your answer to the nearest cent. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #521040 by </B><A HREF=/tutors/aboutme.mpl?userid=LinnW><B>LinnW(1048)</B></A><img src=\"/images/stars/stars-12.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=LinnW><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=LinnW><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=521040\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 37000*( 1 + monthly interest )^(15 years * 12 months)<BR>\n" );
document.write( "monthly interest = 0.0285/12 = 0.002375<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=37000%2A%28+1.002375+%29%5E180 ALIGN=MIDDLE  ALT=\"37000%2A%28+1.002375+%29%5E180\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "approximately $56707.76 </SPAN>\n" );
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