document.write( "Question 960438: You deposit $500 in an account today and an additional amount X in one year. The account pays 3.5% annually. What amount X is required to have $2,000 in the account at the end of three years? \n" ); document.write( "

Algebra.Com's Answer #586964 by josgarithmetic(39630) $\"\"$ $\"About$

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First year, 500 dollars.
\n" ); document.write( " $\"1.035%28500%29\"$ .\r
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\n" ); document.write( "\n" ); document.write( "After one year, $\"500%281.035%29%2BX\"$ .\r
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\n" ); document.write( "\n" ); document.write( "At the end of two more years, $\"%28%28500%29%281.035%29%2BX%29%281.035%29%5E2=2000\"$ .\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( " $\"%28500%29%281.035%29%5E3%2BX%2A%281.035%29%5E2=2000\"$
\n" ); document.write( " $\"X%2A%281.035%29%5E2%2B500%281.035%29%5E2=2000\"$
\n" ); document.write( " $\"X%2A%281.035%29%5E3=2000-%28500%29%281.035%29%5E2\"$
\n" ); document.write( " $\"X=%282000-500%2A1.035%5E2%29%2F%281.035%29%5E3\"$ \r
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\n" ); document.write( "\n" ); document.write( " $\"X=%281464.3875%29%2F1.108717875\"$
\n" ); document.write( " $\"highlight%28X=1320.79%29\"$
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