document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=914568>Question 914568</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Hi! I have two questions that I'm pretty stumped on. \r<BR>\n" );
document.write( "\n" );
document.write( "Today a typical family of four spends $960/month for food. If inflation occurs at the rate of 3%/year over the next 7 years, how much should the typical family of four expect to spend for food 7 years from now? (Round your answer to the nearest cent.)\r<BR>\n" );
document.write( "\n" );
document.write( "Anthony invested a sum of money 9 years ago in a savings account that has since paid interest at the rate of 12%/year compounded quarterly. His investment is now worth $17,389.67. How much did he originally invest?\r<BR>\n" );
document.write( "\n" );
document.write( "Thank you! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #555189 by </B><A HREF=/tutors/aboutme.mpl?userid=ewatrrr><B>ewatrrr(24785)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ewatrrr><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=ewatrrr><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=555189\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  In General <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A%28t%29+=+P%281%2Br%2Fn%29%5E%28nt%29 ALIGN=MIDDLE  ALT=\"A%28t%29+=+P%281%2Br%2Fn%29%5E%28nt%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "A = Accumulated Amount<BR>\n" );
document.write( "P= principal = <BR>\n" );
document.write( "r= annual rate = .<BR>\n" );
document.write( "n= periods per year = <BR>\n" );
document.write( "t= years =<BR>\n" );
document.write( "I. <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A%28t%29+=+960%281.03%29%5E%287%29 ALIGN=MIDDLE  ALT=\"A%28t%29+=+960%281.03%29%5E%287%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "II. <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=17389.67+=+P%281.04%29%5E%2836%29 ALIGN=MIDDLE  ALT=\"17389.67+=+P%281.04%29%5E%2836%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=17389.67+%2F%281.04%29%5E%2836%29++=+P+ ALIGN=MIDDLE  ALT=\"17389.67+%2F%281.04%29%5E%2836%29++=+P+\"   DISABLED_style= \"max-width:90%; height:auto;\" > </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );