document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1037912>Question 1037912</A>: <I><SPAN STYLE=\"word-break: break-all;\"> What sum of money invested at 10% compounded semiannually will grow to $1, 000, 000 in 100<BR>\n" );
document.write( "years? Round the result to two decimal places.<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #652574 by </B><A HREF=/tutors/aboutme.mpl?userid=addingup><B>addingup(3677)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=addingup><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=addingup><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=652574\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A = final amount<BR>\n" );
document.write( "P = Principal, the sum of money originally invested<BR>\n" );
document.write( "r = rate, the interest rate<BR>\n" );
document.write( "n = number of compounding periods, in your problem this is 2<BR>\n" );
document.write( "t = time, the number of years, in your problem 100<BR>\n" );
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document.write( "A = P(1+r/n)^nt<BR>\n" );
document.write( "1,000,000 = P(1+0.10/2)^2*100<BR>\n" );
document.write( "1,000,000 = P(1.05)^200<BR>\n" );
document.write( "1,000,000 = P*17,292.58 divide both sides by 17,292.58<BR>\n" );
document.write( "P = 1.000.000/17.292.58 = 57.83<BR>\n" );
document.write( "This problem is to teach you the power of compounding. </SPAN>\n" );
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