document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1009715>Question 1009715</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Rebecca put $39,000 in an education account on the day her daughter was born.<BR>\n" );
document.write( "If the account earned 6.65% interest compounded monthly, what was the total in the account when her daughter turned 18? Round the final answer to the nearest cent. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #625243 by </B><A HREF=/tutors/aboutme.mpl?userid=fractalier><B>fractalier(6550)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=fractalier><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=fractalier><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=625243\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> For interest compounded n times a year, we have<BR>\n" );
document.write( "A(t) = Ao*(1 + r/n)^(nt)<BR>\n" );
document.write( "so that<BR>\n" );
document.write( "A(18) = 39000(1 + .0665/12)^(12*18) = $128670.79<BR>\n" );
document.write( "Too bad no one pays that kind of interest any more... </SPAN>\n" );
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