document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1000686>Question 1000686</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You deposit 14,000 in an account that pays 6 percent interest compounded quarterly.\r<BR>\n" );
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document.write( "A:find the future value after one year.<BR>\n" );
document.write( "B:Use the future value formula for simple interest to determine the effective annual yield. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #618036 by </B><A HREF=/tutors/aboutme.mpl?userid=Alan3354><B>Alan3354(69443)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Alan3354><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=Alan3354><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=618036\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> You deposit 14,000 in an account that pays 6 percent interest compounded quarterly.\r<BR>\n" );
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document.write( "A:find the future value after one year.<BR>\n" );
document.write( "FV = PV*(1 + 0.06/4)^4<BR>\n" );
document.write( "= 14000*1.015^4<BR>\n" );
document.write( "=~ 14859.09<BR>\n" );
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document.write( "B:Use the future value formula for simple interest to determine the effective annual yield.<BR>\n" );
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document.write( "simple interest?<BR>\n" );
document.write( "--> 1.015^4<BR>\n" );
document.write( "=~ 1.06136<BR>\n" );
document.write( "--> ~6.136%<BR>\n" );
document.write( " </SPAN>\n" );
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