document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1076311>Question 1076311</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Tom opens a bank account and makes an initial deposit of $15,000. The banker tells Tom that he is going to receive an annual rate of 3.5% on his investment. Find the bank balance assuming Tom leaves the account untouched for 15 years. In your final answer, include all of your calculations.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #691057 by </B><A HREF=/tutors/aboutme.mpl?userid=jorel1380><B>jorel1380(3719)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jorel1380><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=jorel1380><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=691057\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Assuming annual compounding, then:<BR>\n" );
document.write( "FV=15000*(1+.035)^15<BR>\n" );
document.write( "FV=15000*1.6753488307521611831782355996538<BR>\n" );
document.write( "FV=$25130.23<BR>\n" );
document.write( "At the end of 15 years, Tom should have $25130.23 in his account. &#9786;&#9786;&#9786;&#9786; </SPAN>\n" );
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