document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=867789>Question 867789</A>: <I><SPAN STYLE=\"word-break: break-all;\"> An investment account pays 4.2% interest compounded monthly. If you invest $2,500 in the account, how much money will you have after 15 years ? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #523186 by </B><A HREF=/tutors/aboutme.mpl?userid=nerdybill><B>nerdybill(7384)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=nerdybill><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=nerdybill><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=523186\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> An investment account pays 4.2% interest compounded monthly. If you invest $2,500 in the account, how much money will you have after 15 years ?<BR>\n" );
document.write( ".<BR>\n" );
document.write( "compound interest formula is<BR>\n" );
document.write( "A = P(1 + r/n)^(nt)<BR>\n" );
document.write( "where<BR>\n" );
document.write( "P is 2500<BR>\n" );
document.write( "r is .042<BR>\n" );
document.write( "n is 12<BR>\n" );
document.write( "t is 15<BR>\n" );
document.write( ".<BR>\n" );
document.write( "A = 2500(1 + .042/12)^(12*15)<BR>\n" );
document.write( "A = 2500(1 + .042/12)^180<BR>\n" );
document.write( "A = 2500(1.0035)^180<BR>\n" );
document.write( "A = $4688.87\r<BR>\n" );
document.write( "\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );