document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1090066>Question 1090066</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Assuming an interest rate of 8% compounded annually. Answer the following question;<BR>\n" );
document.write( "(a) how much money can be loaded now if $6,000 is to be repaid at the end of five years? <BR>\n" );
document.write( "(b) how much money will be required in four years in order to repay a $15,000 loan borrowed now? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #704481 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=704481\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 6000=P(1+.08)^5<BR>\n" );
document.write( "6000=P*1.4693.  Without rounding, divide<BR>\n" );
document.write( "P=$4083.50<BR>\n" );
document.write( "-----------------------<BR>\n" );
document.write( "P=15000(1.08)^4=$20407.33<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );