document.write( "Question 83892: You inveast 17,000 at 4.5% interest, compounded monthly. How much money will you have after 5 years? \n" ); document.write( "

Algebra.Com's Answer #60375 by jim_thompson5910(35256) $\"\"$ $\"About$

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Let p=17000, r=0.045, n=12, and t=5 and plug them into $\"A=p%281%2Br%2Fn%29%5E%28n%2At%29\"$ \r
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\n" ); document.write( "\n" ); document.write( " $\"A=17000%281%2B0.045%2F12%29%5E%2812%2A5%29\"$ Start with the given expression
\n" ); document.write( " $\"A=17000%281%2B0.00375%29%5E%2812%2A5%29\"$ Divide 0.045 by 12 to get 0.00375
\n" ); document.write( " $\"A=17000%281%2B0.00375%29%5E%2860%29\"$ Multiply the exponents 12 and 5 to get 60
\n" ); document.write( " $\"A=17000%281.00375%29%5E%2860%29\"$ Add 1 and 0.00375 to get 1.00375
\n" ); document.write( " $\"A=17000%281.25179582052417%29\"$ Raise 1.00375 to the 60 th power to get 1.25179582052417
\n" ); document.write( " $\"A=21280.5289489109\"$ Multiply 17000 and 1.25179582052417 to get 21280.5289489109\r
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\n" ); document.write( "\n" ); document.write( "So the return is $21280.52 \n" ); document.write( "

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