document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=987086>Question 987086</A>: <I><SPAN STYLE=\"word-break: break-all;\"> An account is opened with an initial deposit of $6500 and earns 3.6% interest compounded semi-annually. What will the account be worth in 20 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #607860 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=607860\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> You'll use the formula A = P(1+r/n)^(n*t) where\r<BR>\n" );
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document.write( "P = 6500 is the amount deposited<BR>\n" );
document.write( "r = 0.036 is the decimal form of 3.6% interest rate<BR>\n" );
document.write( "n = 2 is the number of times the money is compounded per year<BR>\n" );
document.write( "t = 20 is the number of years\r<BR>\n" );
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document.write( "A = P(1+r/n)^(n*t)<BR>\n" );
document.write( "A = 6500(1+0.036/2)^(2*20)<BR>\n" );
document.write( "A = 13,268.580898361<BR>\n" );
document.write( "A = 13,268.58\r<BR>\n" );
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document.write( "So you'll have $13,268.58 in the account. </SPAN>\n" );
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