document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1096502>Question 1096502</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Use the compound interest formulas A=P(1+r/n)^nt and A=Pe^rt to solve<BR>\n" );
document.write( "Find the accumulated value of an investment of $140 at 3% compounded annually for 16 years. Show work. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #710935 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><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=710935\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font color=\"black\" face=\"times\" size=\"3\"><BR>\n" );
document.write( "Use the compound interest formula: \r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+P%281%2Br%2Fn%29%5E%28n%2At%29 ALIGN=MIDDLE  ALT=\"A+=+P%281%2Br%2Fn%29%5E%28n%2At%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "where,\r<BR>\n" );
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document.write( "A = amount in the account after t years<BR>\n" );
document.write( "P = initial amount invested<BR>\n" );
document.write( "r = interest rate (in decimal form)<BR>\n" );
document.write( "n = compounding frequency<BR>\n" );
document.write( "t = number of years\r<BR>\n" );
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document.write( "In this case,\r<BR>\n" );
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document.write( "A = unknown (we're solving for this)<BR>\n" );
document.write( "P = 140<BR>\n" );
document.write( "r = 0.03 (3% = 3/100 = 0.03)<BR>\n" );
document.write( "n = 1 (the money is compounded 1 time per year)<BR>\n" );
document.write( "t = 16\r<BR>\n" );
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document.write( "Plug all these values into the formula to get...\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+P%281%2Br%2Fn%29%5E%28n%2At%29 ALIGN=MIDDLE  ALT=\"A+=+P%281%2Br%2Fn%29%5E%28n%2At%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+140%281%2B0.03%2F1%29%5E%281%2A16%29 ALIGN=MIDDLE  ALT=\"A+=+140%281%2B0.03%2F1%29%5E%281%2A16%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+140%281%2B0.03%29%5E%281%2A16%29 ALIGN=MIDDLE  ALT=\"A+=+140%281%2B0.03%29%5E%281%2A16%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+140%281.03%29%5E%281%2A16%29 ALIGN=MIDDLE  ALT=\"A+=+140%281.03%29%5E%281%2A16%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+140%281.03%29%5E%2816%29 ALIGN=MIDDLE  ALT=\"A+=+140%281.03%29%5E%2816%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+140%281.60470643909879%29 ALIGN=MIDDLE  ALT=\"A+=+140%281.60470643909879%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+224.65890147383 ALIGN=MIDDLE  ALT=\"A+=+224.65890147383\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+224.66 ALIGN=MIDDLE  ALT=\"A+=+224.66\"   DISABLED_style= \"max-width:90%; height:auto;\" > Round to the nearest cent (hundredth)\r<BR>\n" );
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document.write( "Final Answer: <font color=red size=4>$224.66</font>\r<BR>\n" );
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