document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1137131>Question 1137131</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Colin invests £2900 into his bank account. <BR>\n" );
document.write( "He receives 3% per year compound interest. <BR>\n" );
document.write( "How much will Colin have after 4 years? <BR>\n" );
document.write( "Give your answer to the nearest penny where appropriate<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 #754953 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=754953\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 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 is 2900<BR>\n" );
document.write( "r is 3% per year which is equal to .03 per year.<BR>\n" );
document.write( "n is 4 years.\r<BR>\n" );
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document.write( "the formula becomes f = 2900 * (1 + .03) ^ 4.\r<BR>\n" );
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document.write( "solve for f to get f = 3263.975549.\r<BR>\n" );
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