document.write( "Question 1125329: 1.) If your IRA compounds continuously for the next 20 years, how much interest will you earn if it pays 3.45% interest, the current balance is $82,000, and you make no contributions or withdrawals\r
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "2.) On January 1, there was $25,000 in an account paying 4.35% daily. On Feb. 17th $2,000 was added to the account. On March 5th $5,000 was withdrawn. What is the balance on April 1st? (Leap year is not a factor \n" ); document.write( "
Algebra.Com's Answer #741633 by Boreal(15235)\"\" \"About 
You can put this solution on YOUR website!
rule of 69/70 is doubling time in years is 69 or 70 (or even 72)/3.45, the per cent rate. That is 20 years, strongly suggesting the money will double\r
\n" ); document.write( "\n" ); document.write( "P=Poe^(rt)=82000*e^(0.0345*20), where e^(0.69)=1.994, almost 2
\n" ); document.write( "so P=$163,484.67\r
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "
\n" ); document.write( "\n" ); document.write( "P=25000(1+0.0435/365)^47=$25140.42
\n" ); document.write( "+$2000=$27140.42 on 17 Feb
\n" ); document.write( "27140.42(1+(.0435/365)^16=$27292.86
\n" ); document.write( "-$5000=$22292.86 on 5 March
\n" ); document.write( "22292.86(1+0.0435/365)^27=$22,364.71 \n" ); document.write( "
\n" );