document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=868879>Question 868879</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A deposit of $780 is in a bank for 15 years earning interest at a rate of 9.5%.   Find the interest earned if the interest is compounded daily.\r<BR>\n" );
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document.write( "I worked through it like this:<BR>\n" );
document.write( "FV=P(1+i)^\r<BR>\n" );
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document.write( "P=780<BR>\n" );
document.write( "i=9.5% = .095x1/365 = .0002602739726<BR>\n" );
document.write( "n=15x365 = 5475\r<BR>\n" );
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document.write( "FV=780(1+.0002602739726)^5475 = 3242.53 </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #523873 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=523873\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> You found the future value FV. Now subtract that from the present value PV (the amount deposited) to get the interest earned.\r<BR>\n" );
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document.write( "I = FV - PV = 3242.53 - 780 = <font color=\"red\">$2,462.53</font> </SPAN>\n" );
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