document.write( "Question 73442This question is from textbook algebra and trigonometry structure and method
\n" ); document.write( ": one thousand dollars is invested at 12% interest compounded annually. determine how much the investment is after 2 years \n" ); document.write( "
Algebra.Com's Answer #52562 by jim_thompson5910(35256)\"\" \"About 
You can put this solution on YOUR website!
Use the formula:
\n" ); document.write( "\"A=P%281%2Br%2Fn%29%5E%28nt%29\"Where A is the return, P is the invested amount, r is the interest rate, n is the compound frequency (since its annually n=1) and t is the time t=2 years
\n" ); document.write( "\"A=1000%281%2B.12%29%5E%282%29\"
\n" ); document.write( "\"A=1000%281.12%29%5E%282%29\"
\n" ); document.write( "\"A=1000%281.2544%29\"
\n" ); document.write( "\"A=1254.4\"
\n" ); document.write( "So after two years you'll have $1,254.4. This seems like a lot but doing more of these problems will help you grasp them better.
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