document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1002392>Question 1002392</A>: <I><SPAN STYLE=\"word-break: break-all;\"> What is the solution to this problem. Find the effective annual yield of an account paying 4.8% compounded monthly. Round to the nearest hundredth of an percent.<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #619311 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=619311\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> pick a number like 100<BR>\n" );
document.write( "P=100(1+0.048/12)^12, for 1 year<BR>\n" );
document.write( "P=100(1.004)^12<BR>\n" );
document.write( "P=104.907, or 4.91% </SPAN>\n" );
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