document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1041958>Question 1041958</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Can you help me solve this difficult complicated problem?\r<BR>\n" );
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document.write( "Suppose you deposited $625 in an account with an annual interest rate of 4% compounded semi-annually. Use this information to answer parts a,b and c\r<BR>\n" );
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document.write( "A) Find the Equation that gives the amount of money in the account after t years.\r<BR>\n" );
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document.write( "B) Find the amount of money in the account after 12 years (round to the nearest penny).\r<BR>\n" );
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document.write( "C) If the Interest were Compounded Continuously, how much money would the account be worth after 5 years (round to the nearest penny).\r<BR>\n" );
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document.write( "Thank you so much, I greatly appreciate it !! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #656871 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=656871\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Can you help me solve this difficult complicated problem? <BR>\n" );
document.write( "Suppose you deposited $625 in an account with an annual interest rate of 4% compounded semi-annually. <BR>\n" );
document.write( "Use this information to answer parts a,b and c <BR>\n" );
document.write( "A) Find the Equation that gives the amount of money in the account after t years.<BR>\n" );
document.write( "A(t) = P(1+(r/n))^(n*t)<BR>\n" );
document.write( "r is the annual rate<BR>\n" );
document.write( "n is the # of times you compound each year<BR>\n" );
document.write( "t is the # of years you compound<BR>\n" );
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document.write( "B) Find the amount of money in the account after 12 years (round to the nearest penny).<BR>\n" );
document.write( "A(12) = 625(1+(0.04/2))^(2*12) = $1005.27<BR>\n" );
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document.write( "C) If the Interest were Compounded Continuously, how much money would the account be worth after 5 years (round to the nearest penny).<BR>\n" );
document.write( "Formula: A(t) = P*e^(r*t)<BR>\n" );
document.write( "A(12) = 625*e^(0.04*15) = $1138.82<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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