document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1119877>Question 1119877</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Graduation is 5 years away and you want to have $950 available for a trip. If your bank is offering a 5-year CD (certificate of deposit) paying 2.8% simple interest, how much do you need to put in this CD to have the money for your trip? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #735506 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=735506\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 950=x(1.028)^5, where x is the amount needed.  This is annual compounding and there are 5 years.<BR>\n" );
document.write( "950=x*1.148<BR>\n" );
document.write( "x=$827.48 (not rounding the intermediate calculation).\r<BR>\n" );
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