document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1001514>Question 1001514</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Tabitha received $2,100 from her aunt as a birthday gift. She decided to put the money in an account to save for college. The account has a fixed interest rate of 3.5%, compounded semi-annually.\r<BR>\n" );
document.write( "\n" );
document.write( "How much money will be in the account after five years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #618651 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=618651\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Tabitha received $2,100 from her aunt as a birthday gift. She decided to put the money in an account to save for college. The account has a fixed interest rate of 3.5%, compounded semi-annually. <BR>\n" );
document.write( "How much money will be in the account after five years? <BR>\n" );
document.write( "----<BR>\n" );
document.write( "A(t) = P(1+(r/n))^(nt)<BR>\n" );
document.write( "-----<BR>\n" );
document.write( "A(5) = 2100(1+(0.035/2))^(2*5)<BR>\n" );
document.write( "-----<BR>\n" );
document.write( "A(5) = 2100*1.0175^10<BR>\n" );
document.write( "-----<BR>\n" );
document.write( "A(5) = $2497.83<BR>\n" );
document.write( "----------<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "-------------- </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );