document.write( "Question 1037141: Find the compound interest on $5000 at 6% pa.a compounded monthly for 2 years (2dps).\r
\n" ); document.write( "\n" ); document.write( "I know the formula but how do you substitute this question into the formula?
\n" ); document.write( "Thanks very much.
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Algebra.Com's Answer #651864 by josmiceli(19441)\"\" \"About 
You can put this solution on YOUR website!
\"+A+=+P%2A%28+1+%2B+%28+r%2Fn+%29+%29%5E%28nt%29+\"
\n" ); document.write( "\"+P+=+5000+\"
\n" ); document.write( "\"+r+=+.06+\"
\n" ); document.write( "\"+t+=+2+\"
\n" ); document.write( "\"+n+=+12+\"
\n" ); document.write( "-------------------
\n" ); document.write( "\"+A+=+5000%2A%28+1+%2B+%28+.06%2F12+%29+%29%5E%28+12%2A2+%29+\"
\n" ); document.write( "\"+A+=+5000%2A%28+1+%2B+.005+%29%5E24+\"
\n" ); document.write( "\"+A+=+5000%2A1.005%5E24+\"
\n" ); document.write( "*\"+A+=+5000%2A1.12716+\"
\n" ); document.write( "\"+A+=+5635.8+\"
\n" ); document.write( "----------------------
\n" ); document.write( "The interest on the principle, $5,000 is
\n" ); document.write( "\"+5635.8+-+5000+=+635.8+\", $635.80
\n" ); document.write( "---------------------------------
\n" ); document.write( "Going back to:
\n" ); document.write( "*\"+A+=+5000%2A1.12716+\"
\n" ); document.write( "\"+A+=+5000%2A%28+1+%2B+.12716+%29+\"
\n" ); document.write( "Let \"+I+\" = interest paid
\n" ); document.write( "\"+A+=+5000+%2B+5000%2A.12716+\"
\n" ); document.write( "\"+A+=+P+%2B+I+\"
\n" ); document.write( "
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