document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1049964>Question 1049964</A>: <I><SPAN STYLE=\"word-break: break-all;\"> An investment of $6,599.20 earns 4.2% interest compounded monthly over 7 years. Approximately how much interest is earned on the investment? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #665564 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=665564\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Amount = Principal(1+r/n)^nt<BR>\n" );
document.write( "A = 6,599.20(1+0.042/12)^(12*7) = 8,850.16<BR>\n" );
document.write( "8,850.16-6,599.20 = 2,250.96 is the amount interest earned on the investment </SPAN>\n" );
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