document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1030172>Question 1030172</A>: <I><SPAN STYLE=\"word-break: break-all;\"> how much must you deposit in an account that pays 6.25% interest, compounded annually, to have a balance of 700 after two years answer? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #645142 by </B><A HREF=/tutors/aboutme.mpl?userid=Cromlix><B>Cromlix(4381)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Cromlix><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=Cromlix><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=645142\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Hi there,<BR>\n" );
document.write( "100% + 6.25% = 106.25%<BR>\n" );
document.write( "106.25% = 106.25/100 = 1.0625<BR>\n" );
document.write( "x * 1.0625^2 = 700 (* = times)<BR>\n" );
document.write( "x = 700/1.0625^2<BR>\n" );
document.write( "x = 620.07 (2 decimal figures)<BR>\n" );
document.write( "Hope this helps :-) </SPAN>\n" );
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