document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1085810>Question 1085810</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Dave won a photography contest and received a $1300 cash prize. will he earn more interest in 1 year if he invests his winnings in a simple interest account that pays 6% or in an account that pays 5.75% interest compounded monthly? how much more interest will he earn? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #699906 by </B><A HREF=/tutors/aboutme.mpl?userid=rfer><B>rfer(16322)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=rfer><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=699906\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> I=pRT<BR>\n" );
document.write( "I=1300*0.06*1<BR>\n" );
document.write( "I=78<BR>\n" );
document.write( "----------------<BR>\n" );
document.write( "FV=1300(1+0.0575/12)^12<BR>\n" );
document.write( "FV=1300(1.00479)^12<BR>\n" );
document.write( "FV=1300*1.059<BR>\n" );
document.write( "FV=1376.72<BR>\n" );
document.write( "-----------------<BR>\n" );
document.write( "6% simple is better </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );