document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1126966>Question 1126966</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Milena deposited &#8203;$6 comma 000 in a certificate of deposit&#8203; (CD) account that pays 9&#8203;% annual&#8203; interest, compounded monthly. How much will the balance of the account be in 6 &#8203;years?\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #743296 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(52781)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ikleyn><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=ikleyn><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=743296\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .\r<BR>\n" );
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document.write( "f = p * (1 + r) ^ n\r<BR>\n" );
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document.write( "f is the future value<BR>\n" );
document.write( "p is the present value<BR>\n" );
document.write( "r is the interest rate per time period<BR>\n" );
document.write( "n is the number of time periods.\r<BR>\n" );
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document.write( "in your problem:\r<BR>\n" );
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document.write( "p = 6000<BR>\n" );
document.write( "f = what you want to find<BR>\n" );
document.write( "r = 0.09/12 per month<BR>\n" );
document.write( "n = 12*6 = 72 months\r<BR>\n" );
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document.write( "formula becomes f = 6000 * (1 + 0.09/12) ^ 72\r<BR>\n" );
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document.write( "Calculate  f to get  f = 10275.32.\r<BR>\n" );
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document.write( "<U>Answer</U>.  $10275.32.\r<BR>\n" );
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