document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1061169>Question 1061169</A>: <I><SPAN STYLE=\"word-break: break-all;\"> An initial investment of 25,000 earns 5% annual interest compounded monthly. How much will be in the account after 4 years?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #676004 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=676004\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> f = p * (1+r)^n\r<BR>\n" );
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document.write( "f is the future value<BR>\n" );
document.write( "p is the present value<BR>\n" );
document.write( "r is the interest rate per time period.<BR>\n" );
document.write( "n is the number of time periods.\r<BR>\n" );
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document.write( "you have:\r<BR>\n" );
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document.write( "p = 25,000<BR>\n" );
document.write( "r = 5% / 12 / 100 = .0041666667<BR>\n" );
document.write( "n = 4 * 12 = 48\r<BR>\n" );
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document.write( "formula becomes f = 25,000 * (1.0041666667)^48.\r<BR>\n" );
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document.write( "solve for f to get f = 30522.38388\r<BR>\n" );
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document.write( " </SPAN>\n" );
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