document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=88925>Question 88925</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Bill sells is vintage 1974 Road Runner for $9500. He uses the money to invest in a 36 month CD that pays 4.12% interest compounded quartely.  How much money will he receive when he cashes in his CD at the end of the 36 months? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #64633 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=64633\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Bill sells is vintage 1974 Road Runner for $9500. He uses the money to invest in a 36 month CD that pays 4.12% interest compounded quartely. How much money will he receive when he cashes in his CD at the end of the 36 months?<BR>\n" );
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document.write( "A = P(1+r/n)^(nt)<BR>\n" );
document.write( "Your Problem:<BR>\n" );
document.write( "A is the future value<BR>\n" );
document.write( "P is the pricipal or investment<BR>\n" );
document.write( "r is the yearly interest rate<BR>\n" );
document.write( "n is the number of compounding periods per year<BR>\n" );
document.write( "t is the number of years<BR>\n" );
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document.write( "A = 9500(1+0.0412/4)^(4*3)<BR>\n" );
document.write( "A = 9500(1.1308)<BR>\n" );
document.write( "A = $10743.06<BR>\n" );
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document.write( "\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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