document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=923615>Question 923615</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Wilson invests $4000 at 6% p.a. with interest compounding monthly for 4 months.<BR>\n" );
document.write( "a)what is the monthly interest rate?<BR>\n" );
document.write( "b) find the amount of interest earned by calculating the simple interest for 4 months. DO NOT ROUND except for the final balance, which should be rounded to 2 decimal places.\r<BR>\n" );
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document.write( "can someone help e solve this question?:( </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #560172 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=560172\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> the per month interest rate is equal to 6% divided by 12 divided by 100 = .005\r<BR>\n" );
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document.write( "4 months of simple interest = 4 * .005 * 4000 = 80 dollars.\r<BR>\n" );
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document.write( "the compound interest earned is equal to 80.6020025 dollars.\r<BR>\n" );
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document.write( "the simple interest can be calcullated in a couple of ways as shown below.\r<BR>\n" );
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document.write( ".06 * 4000 * 4/12 = 80\r<BR>\n" );
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document.write( ".005 * 4000 * 4 = 80\r<BR>\n" );
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document.write( "the compound interest is calculated as shown below:\r<BR>\n" );
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document.write( "4000 * (1.005)^4 - 4000 = 80.6020025\r<BR>\n" );
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document.write( " </SPAN>\n" );
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