document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1102554>Question 1102554</A>: <I><SPAN STYLE=\"word-break: break-all;\"> What principle will amount to $1500 if invested at 5% compounded semi-annually for 14years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #717254 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=717254\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Compound interest formula<BR>\n" );
document.write( "P=Po(1+r/t)^nt; r rate, t number of compoundings per year, n number of years<BR>\n" );
document.write( "P=1500(1+0.025)^28<BR>\n" );
document.write( "don't round until the end<BR>\n" );
document.write( "=$2994.74<BR>\n" );
document.write( "rule of 72 predicts doubling in 72/5=14.2 years.<BR>\n" );
document.write( "Rule of 70 is closer and predicts doubling in 14 years. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );