document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1102661>Question 1102661</A>: <I><SPAN STYLE=\"word-break: break-all;\"> IF DON INVESTS 3000 AT 8% INTREST COMPOUNDED QUARTERLY, FIND THE AMOUNT AFTER 4 YEARS </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #717359 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=717359\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Compound interest formula used here<BR>\n" );
document.write( "P=Po(1+r/n)^nt, r is rate, n is number of compoundings in a year, t is the number of years<BR>\n" );
document.write( "P=3000(1+0.08/4)^16<BR>\n" );
document.write( "P=3000*1.02^16=$4118.36 ANSWER </SPAN>\n" );
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