document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=96545>Question 96545</A>This question is from textbook <A HREF=http://www.amazon.com/exec/obidos/ASIN/0669383147/algebrahomeworkh></A><BR>\n" );
document.write( ": <I><SPAN STYLE=\"word-break: break-all;\"> Hi. I don't get this question: $1000 is deposited in a savings account that is compounded annually at 6%. The balance, A, in the account after t years is <BR>\n" );
document.write( "A = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1000%281%2B.06%29%5Et ALIGN=MIDDLE  ALT=\"1000%281%2B.06%29%5Et\"   DISABLED_style= \"max-width:90%; height:auto;\" >. Find the balance after 1 year, 10 years, and 20 years. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #70290 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=70290\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> $1000 is deposited in a savings account that is compounded annually at 6%. The balance, A, in the account after t years is <BR>\n" );
document.write( "A(t) = 1000(1+(.06))^(t) <BR>\n" );
document.write( "Find the balance after 1 year, 10 years, and 20 years.<BR>\n" );
document.write( "---------<BR>\n" );
document.write( "One year:<BR>\n" );
document.write( "A(1)= 1000(1+0.06/1)^(1*1)<BR>\n" );
document.write( "A(1)=1000*1.06 <BR>\n" );
document.write( "A(1)= $1060.00<BR>\n" );
document.write( "--------------------<BR>\n" );
document.write( "Ten years:<BR>\n" );
document.write( "A(10)= 1000(1.06)^10 = 1000*1.79085= $1790.85<BR>\n" );
document.write( "-----------------<BR>\n" );
document.write( "A(20) = 1000(1.06)^20 = 1000*3.20714 = $3207.14<BR>\n" );
document.write( "======================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );