document.write( "Question 1098352: For her 3rd birthday Alice's parents invested $5,000.00 in a 13-year certificate for her that pays 7% compounded quarterly. How much is the certificate worth on Alice's 16 birthday? Round your answer to 2 decimal places and separate the thousands by a comma. \n" ); document.write( "
Algebra.Com's Answer #712800 by ankor@dixie-net.com(22740)\"\" \"About 
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For her 3rd birthday Alice's parents invested $5,000.00 in a 13-year certificate for her that pays 7% compounded quarterly.
\n" ); document.write( " How much is the certificate worth on Alice's 16 birthday?
\n" ); document.write( " Round your answer to 2 decimal places
\n" ); document.write( ": Using the formula: A = Ao(1+(r/n))^(nt), where:
\n" ); document.write( "A = the resulting amt after t time
\n" ); document.write( "Ao - initial amt
\n" ); document.write( "r = interest rate in decimal form
\n" ); document.write( "n = compounding times per year
\n" ); document.write( "t = time in years
\n" ); document.write( ":
\n" ); document.write( "Ao=$5000; n=4 (quarterly); t= 13 yrs
\n" ); document.write( "A = 5000(1 + .07/4))^(4*13)
\n" ); document.write( "A = 5000(1.0175)^52
\n" ); document.write( "Using your calc
\n" ); document.write( "A = 5000*2.4648
\n" ); document.write( "A = $12,324.23 in 13 yrs, 7% compounded quarterly on her 16th birthday
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