document.write( "Question 954978: If $1000 is invested at 4% interest, find the value of the investment at the end of 9 years if the interest is compounded as follows.
\n" ); document.write( "annually? \n" ); document.write( "

Algebra.Com's Answer #583314 by carmela(3) $\"\"$ $\"About$

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Use the formula below
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\n" ); document.write( "where
\n" ); document.write( "A=Final Value
\n" ); document.write( "P=Principal Amount
\n" ); document.write( "r=interest rate in decimal
\n" ); document.write( "n=number of compounding per year
\n" ); document.write( "t=total number of years\r
\n" ); document.write( "\n" ); document.write( "Note:
\n" ); document.write( "If interest is compounded yearly, then n = 1; if semi-annually, then n = 2; quarterly, then n = 4; monthly, then n = 12; weekly, then n = 52; daily, then n = 365;\r
\n" ); document.write( "\n" ); document.write( "Given:
\n" ); document.write( "P=$1000
\n" ); document.write( "r=4% = 0.04
\n" ); document.write( "n=1
\n" ); document.write( "t=9\r
\n" ); document.write( "\n" ); document.write( "Substitute the given to the formula
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\n" ); document.write( "\n" ); document.write( "Therefore,value of the investment at the end of 9 years is $1,423.31\r
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