document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=86870>Question 86870</A>: <I><SPAN STYLE=\"word-break: break-all;\"> what formulas do i use for these problems:\r<BR>\n" );
document.write( "\n" );
document.write( "Problem #5<BR>\n" );
document.write( "John lee saving account has a balance of $2449 after 7 years what will the amount of interest be at 8% compounded semiannually?\r<BR>\n" );
document.write( "\n" );
document.write( "Problem #7<BR>\n" );
document.write( "Southwest dry cleaners believes that it will need new equipment in 5 years<BR>\n" );
document.write( "the equipment will cost $26000 what lump sum should be invested today at 8% compounded semiannually to yield 26000?\r<BR>\n" );
document.write( "\n" );
document.write( " </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #62892 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=62892\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> John lee saving account has a balance of $2449; after 7 years what will the amount of interest be at 8% compounded semiannually?<BR>\n" );
document.write( "A(t) = P (1+r/n)^(nt)<BR>\n" );
document.write( "A(7) = 2449(1+0.08/2)^(2*7)<BR>\n" );
document.write( "A(7) = 4240.88<BR>\n" );
document.write( "Interest earned = 4240.88 - 2449 = $1791.88<BR>\n" );
document.write( "===============\r<BR>\n" );
document.write( "\n" );
document.write( " <BR>\n" );
document.write( "Problem #7<BR>\n" );
document.write( "Southwest dry cleaners believes that it will need new equipment in 5 years<BR>\n" );
document.write( "the equipment will cost $26000 what lump sum should be invested today at 8% compounded semiannually to yield 26000?<BR>\n" );
document.write( "---------<BR>\n" );
document.write( "260000 = P(1+0.08/2)^(2*5)<BR>\n" );
document.write( "P = $175646.68 (Amount to invest today)<BR>\n" );
document.write( "===============<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );