document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=865324>Question 865324</A>: <I><SPAN STYLE=\"word-break: break-all;\"> a credit union client deposits $1800 in an account earning 3% interest, compounded daily. what will the balance of the account be at the end of 27 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #521614 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><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=521614\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> We'll use the formula\r<BR>\n" );
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document.write( "where,\r<BR>\n" );
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document.write( "A = final amount\r<BR>\n" );
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document.write( "P = initial amount\r<BR>\n" );
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document.write( "r = interest rate\r<BR>\n" );
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document.write( "n = compounding frequency\r<BR>\n" );
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document.write( "t = time in years\r<BR>\n" );
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document.write( "----------------------------\r<BR>\n" );
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document.write( "In this case,\r<BR>\n" );
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document.write( "A = unknown (we're evaluating to find this)\r<BR>\n" );
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document.write( "P = 1800\r<BR>\n" );
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document.write( "r = 0.03 (from 3%)\r<BR>\n" );
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document.write( "n = 365 (assuming 365 days in a year)\r<BR>\n" );
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document.write( "t = 27\r<BR>\n" );
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document.write( "-----------------------------\r<BR>\n" );
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document.write( "Plug those values into the equation to get\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=1800%281%2B0.03%2F365%29%5E%28365%2A27%29 ALIGN=MIDDLE  ALT=\"A=1800%281%2B0.03%2F365%29%5E%28365%2A27%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=4046.09969592 ALIGN=MIDDLE  ALT=\"A=4046.09969592\"   DISABLED_style= \"max-width:90%; height:auto;\" > Use a <a  rel=nofollow HREF=\"https://www.google.com/search?q=1800*(1%2B0.03%2F365)%5E(365*27)&oq=1800*(1%2B0.03%2F365)%5E(365*27)\">calculator</a> for this step.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=4046.10 ALIGN=MIDDLE  ALT=\"A=4046.10\"   DISABLED_style= \"max-width:90%; height:auto;\" > Round to the nearest penny.\r<BR>\n" );
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document.write( "So the balance of the account in 27 years will be <font size=4 color=\"red\">$4,046.10</font> </SPAN>\n" );
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