document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1065792>Question 1065792</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You invest an initial $100 in an account that has an annual interest rate of 3%, compounded quarterly. How much money will you have in the account after 20 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 #681019 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=681019\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> T=100(1+(.03/4))^80, for there are 80 separate compoundings.<BR>\n" );
document.write( "Round only at the end<BR>\n" );
document.write( "100*(1.0075)^80=$181.80<BR>\n" );
document.write( "Rough check, rule of 70 says money doubles in 70/3 years or about 23 years.  This is close to doubling but not quite, as it should be. </SPAN>\n" );
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