document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1061517>Question 1061517</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If you could show your steps as to how you get this answer, that'd be so great! Thank you.\r<BR>\n" );
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document.write( "You invest $1,300 in an account that has an annual interest rate of 5%, compounded annually. How much money will be in the account after 10 years? Round your answer to the nearest whole number. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #676285 by </B><A HREF=/tutors/aboutme.mpl?userid=LynnMomo><B>LynnMomo(10)</B></A><img src=\"/images/stars/stars-05.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=LynnMomo><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=LynnMomo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=676285\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Do you know this formulae: A= P(1+r÷n)^nt<BR>\n" );
document.write( "Whereas: p is principle= $1300<BR>\n" );
document.write( "         A is final amount= amount of money after 10 years<BR>\n" );
document.write( "         R is rate= 5%=0.05<BR>\n" );
document.write( "         T is time= 10 years<BR>\n" );
document.write( "         N is compoundings per period<BR>\n" );
document.write( "A= $1300(1+0.05÷12)^12×10<BR>\n" );
document.write( " = $2141.112347....<BR>\n" );
document.write( " = $2141(nearest whole number)<BR>\n" );
document.write( "So,$2141 is the amount of money will be in the acount after 10 years.\r<BR>\n" );
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document.write( "Good luck on your study.^_^<BR>\n" );
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