document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=947518>Question 947518</A>: <I><SPAN STYLE=\"word-break: break-all;\"> how much money will there be in an account at the end of 7 years if $11000 is deposited at 3% interest compounded quarterly?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #578170 by </B><A HREF=/tutors/aboutme.mpl?userid=nerdybill><B>nerdybill(7384)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=nerdybill><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=nerdybill><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=578170\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> how much money will there be in an account at the end of 7 years if $11000 is deposited at 3% interest compounded quarterly? <BR>\n" );
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document.write( "compound interest formula:<BR>\n" );
document.write( "A = P(1 + i/n)^(nt)<BR>\n" );
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document.write( "Plug in the given values:<BR>\n" );
document.write( "A = 11000(1 + .03/4)^(4*7)<BR>\n" );
document.write( "A = 11000(1.0075)^28<BR>\n" );
document.write( "A = $13559.83 </SPAN>\n" );
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