document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1102513>Question 1102513</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A person invested $20 000 for 9 years at 7.7% a interest compounded monthly. Calculate the future value of the investment.\r<BR>\n" );
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document.write( "A) $45793. 72 B) $38991.62 C) $39905.67 D) $33860.00 </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #717241 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=717241\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A person invested $20 000 for 9 years at 7.7% a interest compounded monthly. Calculate the future value of the investment.<BR>\n" );
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document.write( "A(t) = P(1+(r/n))^(n*t)<BR>\n" );
document.write( "A(9) = 20,000(1+0.077/12))^(12*9)<BR>\n" );
document.write( "A(9) = 20,000*1.0064^108<BR>\n" );
document.write( "A(9) = 20,000*1.9953<BR>\n" );
document.write( "A(9) = $39905.67<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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document.write( "A) $45793. 72 B) $38991.62 C) $39905.67 D) $33860.00  </SPAN>\n" );
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