document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1022468>Question 1022468</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Daniel has $1200 in the bank.  He is earning 3.5% compound interest each month.  How much money will he have in the bank in one year? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #638166 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=638166\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Daniel has $1200 in the bank.  He is earning 3.5% compound interest each month.  How much money will he have in the bank in one year?<BR>\n" );
document.write( "-------------<BR>\n" );
document.write( "If it's 3.5% per month (not likely, that's loan shark interest) the other tutor's answer is good.<BR>\n" );
document.write( "---<BR>\n" );
document.write( "If it's 3.5% per year compounded monthly that's 3.5%/12 per month.<BR>\n" );
document.write( "Use (1 + 0.035/12)^12 as the multiplier. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );