document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=931589>Question 931589</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 3.	Andrea wants to deposit money into a bank account that earns 4% simple annual interest. Use the formula to find the amount of money that she should deposit so that she earns $2800 after 3.5 years. Show and explain your work. <BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #565629 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=565629\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Andrea wants to deposit money into a bank account that earns 4% simple annual interest. Use the formula to find the amount of money that she should deposit so that she earns $2800 after 3.5 years. <BR>\n" );
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document.write( "Formula: A(t) = P(1 + rt)<BR>\n" );
document.write( "2800 = P(1 + 0.04*3.5)<BR>\n" );
document.write( "2800 = P(1.14)<BR>\n" );
document.write( "P = 2800/1.14 = $2456.14<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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