document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1135554>Question 1135554</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You deposit $3000 at the beginning of each year into an account earning 6% interest compounded annually. How much will you have in the account in 15 years?\r<BR>\n" );
document.write( "\n" );
document.write( "I have tried the formula A=P(1+r/n)^n*t, but still managed to get it wrong. Much help is appreciated. 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 #753217 by </B><A HREF=/tutors/aboutme.mpl?userid=MathTherapy><B>MathTherapy(10552)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=MathTherapy><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=MathTherapy><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=753217\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <BR>\n" );
document.write( "You deposit $3000 at the beginning of each year into an account earning 6% interest compounded annually. How much will you have in the account in 15 years?\r<BR>\n" );
document.write( "\n" );
document.write( "I have tried the formula A=P(1+r/n)^n*t, but still managed to get it wrong. Much help is appreciated. Thank you!<BR>\n" );
document.write( "<PRE STYLE=\"white-space: pre-wrap; white-space: -moz-pre-wrap; white-space: -pre-wrap; white-space: -o-pre-wrap; word-wrap: break-word;\">You have the wrong formula. The one you have gives the FV of a SINGLE AMOUNT for a specific amount of time. <BR>\n" );
document.write( "The one you need is the FV of an ANNUITY DUE, seeing that a specific amount is DEPOSITED at the BEGINNING of a certain period for a certain amount of time. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );