document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=102433>Question 102433</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Mr. Money invested $10,000 in a certificate of deposit (CD) for three years at a rate of 3.75% compounded annually. What will be the value, A of the CD at the end of the three year period? Using the formula A=p(1+rt) where A is the final amount (value) ,p is the initial amount invested r is the annual interest rate and t is the time in years. Please explain this problem to me step by step Thank you </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #74442 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=74442\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Mr. Money invested $10,000 in a certificate of deposit (CD) for three years at a rate of 3.75% compounded annually. What will be the value, A of the CD at the end of the three year period? Using the formula A=p(1+rt) where A is the final amount (value) ,p is the initial amount invested r is the annual interest rate and t is the time in years.<BR>\n" );
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document.write( "A = 10000(1+0.0375*3)<BR>\n" );
document.write( "A = 10000(1+0.075)<BR>\n" );
document.write( "A = 10000(1.075)<BR>\n" );
document.write( "A = $10750.00<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.  </SPAN>\n" );
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