document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1129003>Question 1129003</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose Karen has $1000 that she invests in an account that pays 3.5% interest compounded quarterly. How much money does Karen have at the end of 5 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #745546 by </B><A HREF=/tutors/aboutme.mpl?userid=rothauserc><B>rothauserc(4718)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=rothauserc><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=rothauserc><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=745546\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The compund interest formula is<BR>\n" );
document.write( ":<BR>\n" );
document.write( "A = P(1 +r/n)^(nt), where 'A' is the amount of money after 't' years compounded 'n' times at interest rate 'r' with starting amount 'P'<BR>\n" );
document.write( ":<BR>\n" );
document.write( "Note n = 4 because the rate is compounded quarterly<BR>\n" );
document.write( ":<BR>\n" );
document.write( "A = 1000(1 +0.035/4)^(4*5) = 1190.3397 <BR>\n" );
document.write( ":<BR>\n" );
document.write( "**************************************************<BR>\n" );
document.write( "At the end of 5 years Karen has $1190.34<BR>\n" );
document.write( "**************************************************<BR>\n" );
document.write( ":<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );