document.write( "Question 1035882: please help me I never and still isn't good on doing these problems. Thanks in advance. \r
\n" ); document.write( "\n" ); document.write( "How much you must deposit in an account that pays 6.25% interest, compounded annually to have a balance of $700.00 after 2 years.\r
\n" ); document.write( "\n" ); document.write( "
\n" ); document.write( "

Algebra.Com's Answer #650469 by josgarithmetic(39618)\"\" \"About 
You can put this solution on YOUR website!
Look at this year by year, since 1 year is the compounding period.\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "p, principle to start\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "FIRST YEAR END
\n" ); document.write( "balance is \"p%2B%286.25%2F100%29p\"\r
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "SECOND YEAR END
\n" ); document.write( "Balance is \"%28p%2B%286.25%2F100%29p%29%2B%286.25%2F100%29%28p%2B%286.25%2F100%29p%29\"
\n" ); document.write( "-
\n" ); document.write( "Simplify this expression.
\n" ); document.write( "Equate the expression to 700.00 dollars.
\n" ); document.write( "Solve for p.
\n" ); document.write( "
\n" );