document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=936035>Question 936035</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Jessica invested £14000 for 5 years at a compound interest rate of 9% per year. How much more could she have earned if the interest was compounded monthly ? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #569454 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=569454\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Jessica invested £14000 for 5 years at a compound interest rate of 9% p.a. <BR>\n" );
document.write( "How much more could she have earned if the interest was monthly ?<BR>\n" );
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document.write( "Yearly Compounding :: 14000(1+(0.09/1))^(1*5) = 21540.74<BR>\n" );
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document.write( "Monthly Compounding :: 14000(1+(0.09/12))^(12*5) = 21919.53<BR>\n" );
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document.write( "Ans: 21919.53-21540.74 = 378.79<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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document.write( " </SPAN>\n" );
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