document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=942541>Question 942541</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Over 2 years, how much more does $2000 in a savings account with an APR of 5.2% compounded quarterly earn in interest than the same amount in a savings account with an APR of 4.8% 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 #574592 by </B><A HREF=/tutors/aboutme.mpl?userid=TimothyLamb><B>TimothyLamb(4379)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=TimothyLamb><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=TimothyLamb><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=574592\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> compound-interest formula:<BR>\n" );
document.write( "v = p( 1 + (r/n) )^(nt)<BR>\n" );
document.write( "where:<BR>\n" );
document.write( "v = final value<BR>\n" );
document.write( "p = initial (principal) value<BR>\n" );
document.write( "r = interest rate (as a decimal)<BR>\n" );
document.write( "n = number of compounding periods per year<BR>\n" );
document.write( "t = number of years<BR>\n" );
document.write( "---<BR>\n" );
document.write( "interest from 5.2%:<BR>\n" );
document.write( "v = 2000*( 1 + (0.052/4) )^(4*2)<BR>\n" );
document.write( "v = 2217.71<BR>\n" );
document.write( "i = 2217.71 - 2000<BR>\n" );
document.write( "i = 217.71<BR>\n" );
document.write( "---<BR>\n" );
document.write( "interest from 4.8%:<BR>\n" );
document.write( "v = 2000*( 1 + (0.048/12) )^(12*2)<BR>\n" );
document.write( "v = 2201.10<BR>\n" );
document.write( "i = 2201.10 - 2000<BR>\n" );
document.write( "i = 201.10<BR>\n" );
document.write( "---<BR>\n" );
document.write( "answer:<BR>\n" );
document.write( "d = 217.71 - 201.10<BR>\n" );
document.write( "d = 16.61<BR>\n" );
document.write( "---<BR>\n" );
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document.write( "--- </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );