document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1111601>Question 1111601</A>: <I><SPAN STYLE=\"word-break: break-all;\"> The price of milk has been steadily increasing 5% per year. If the cost of a gallon is now $3.89:<BR>\n" );
document.write( "a. What will it cost in 10 years?\r<BR>\n" );
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document.write( "b. What did it cost 5 years ago? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #726588 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16946)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=726588\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> This a problem of compound Interest calculation\r<BR>\n" );
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document.write( "Cost of milk nowl P =	3.89									<BR>\n" );
document.write( "Cost of milk after 10 years=	A									<BR>\n" );
document.write( "years=n	10.00									<BR>\n" );
document.write( "compounded	1	times a year		t						<BR>\n" );
document.write( "Rate =	5.00			0.05						<BR>\n" );
document.write( "Cost after 10 years =	P*((n+r)/n)^n*t									<BR>\n" );
document.write( "										<BR>\n" );
document.write( "Cost after 10 years =	=	3.89	*(	1+0.05	)^1	*	10<BR>\n" );
document.write( "Amount =	3.89	*(	1	+	0.05	)^	10			<BR>\n" );
document.write( "	3.89	*(	1.05	)^	10.00					<BR>\n" );
document.write( "Cost after 10 years =	$6.34		\r<BR>\n" );
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document.write( "Cost  5 years	ago\r<BR>\n" );
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document.write( "Principal P =	3.89										<BR>\n" );
document.write( "Amount=	A										<BR>\n" );
document.write( "years=n	5.00										<BR>\n" );
document.write( "compounded	1	times a year		t							<BR>\n" );
document.write( "Rate =	-5.00			-0.05							<BR>\n" );
document.write( "Amount =	P*((n+r)/n)^n*t										<BR>\n" );
document.write( "											<BR>\n" );
document.write( "Amount =	=	3.89	*(	1	+	-0.05	)^	1	*	5.00	<BR>\n" );
document.write( "Amount =	3.89	*(	1	+	-0.05	)^	5				<BR>\n" );
document.write( "	3.89	*(	0.95	)^	5.00						<BR>\n" );
document.write( "Cost 5 years ago =	$3.01										<BR>\n" );
document.write( "						<BR>\n" );
document.write( "										<BR>\n" );
document.write( " </SPAN>\n" );
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