document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=872568>Question 872568</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If i invest 20,000 in an account paying 7% compound annually what would be the balance after 9 years </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #526222 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=526222\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Use the formula\r<BR>\n" );
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document.write( "A = P*(1+r/n)^(n*t)\r<BR>\n" );
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document.write( "In this case,\r<BR>\n" );
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document.write( "P = 20000<BR>\n" );
document.write( "r = 0.07 (7% = 7/100 = 0.07)<BR>\n" );
document.write( "n = 1<BR>\n" );
document.write( "t = 9\r<BR>\n" );
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document.write( "-----------------------------\r<BR>\n" );
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document.write( "A = P*(1+r/n)^(n*t)<BR>\n" );
document.write( "A = 20000*(1+0.07/1)^(1*9)<BR>\n" );
document.write( "A = 20000*(1+0.07)^(9)<BR>\n" );
document.write( "A = 20000*(1.07)^(9)<BR>\n" );
document.write( "A = 20000*(1.83845921242016)<BR>\n" );
document.write( "A = 36,769.1842484031<BR>\n" );
document.write( "A = 36,769.18\r<BR>\n" );
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document.write( "The balance after 9 years is <font color=\"red\">$36,769.18</font> </SPAN>\n" );
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