document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1137331>Question 1137331</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If 46800 dollars is invested at an interest rate of 6 percent per year, find the value of the investment at the end of 5 years for the following compounding methods, to the nearest cent?<BR>\n" );
document.write( "(a) Annual: $<BR>\n" );
document.write( "(b) Semiannual: $<BR>\n" );
document.write( "c) Monthly: $<BR>\n" );
document.write( "(d) Daily: $ </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #755272 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(53763)</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=755272\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .\r<BR>\n" );
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document.write( "The post by @VFBundy looks strange, &nbsp;because his answer for constant interest formula is lower than daily interest. \r<BR>\n" );
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document.write( "It is not correct, &nbsp;and the correct answer for constant interest should be &nbsp;(slightly) &nbsp;more than for daily interest.\r<BR>\n" );
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document.write( "The cause is in using too few significant digits in the number &nbsp;\" e \".\r<BR>\n" );
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document.write( "My answer for the constant interest is  &nbsp;$63173.38, &nbsp;when I use  &nbsp;e = 2.71828.\r<BR>\n" );
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document.write( "My notice is not to nitpick, but to restore the right order of values in the answer.\r<BR>\n" );
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document.write( "One more notice:  &nbsp;the correct name for the &nbsp;\"constant interest rate\" &nbsp;in this context is the &nbsp;\"continuous interest\".\r<BR>\n" );
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document.write( " </SPAN>\n" );
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