document.write( "Question 1034703: Bill invested $5902 in an account at 20% compounded quarterly. Calculate the total investment after 1 years. Round your answer to the nearest penny if necessary \n" ); document.write( "

Algebra.Com's Answer #649384 by josmiceli(19441) $\"\"$ $\"About$

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Compound interest formula:
\n" ); document.write( " $\"+A+=+P%2A%28+1+%2B+r%2Fn+%29%5E%28n%2At%29+\"$
\n" ); document.write( "In this problem:
\n" ); document.write( " $\"+P+=+5902+\"$
\n" ); document.write( " $\"+r+=+.2+\"$
\n" ); document.write( " $\"+n+=+4+\"$
\n" ); document.write( " $\"+t+=+1+\"$
\n" ); document.write( "---------------
\n" ); document.write( " $\"+A+=+5902%2A%28+1+%2B+.2%2F4+%29%5E%284%2A1%29+\"$
\n" ); document.write( " $\"+A+=+5902%2A1.05%5E4+\"$
\n" ); document.write( " $\"+A+=+5902%2A1.21551+\"$
\n" ); document.write( " $\"+A+=+7173.918+\"$
\n" ); document.write( "After 1 year, the total is $7,173.92
\n" ); document.write( "---------------
\n" ); document.write( "check:
\n" ); document.write( " $\"+7173.92+=+5902%2A1.05%5E4+\"$
\n" ); document.write( " $\"+1.2155+=+1.2155+\"$
\n" ); document.write( "OK \n" ); document.write( "

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