document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1147954>Question 1147954</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose $500 is invested at a rate of 11% per year compounded monthly. (Round your answers to the nearest cent.)\r<BR>\n" );
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document.write( "(a) Find the principal after 1 month.<BR>\n" );
document.write( "(b) Find the principal after 6 months.<BR>\n" );
document.write( "(c) Find the principal after 1 year.<BR>\n" );
document.write( "(d) Find the principal after 20 years. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #769305 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(52797)</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=769305\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .<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;\">\r\n" );
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document.write( "For your problem, the general formula is\r\n" );
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document.write( "    Future value = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=500%2A%281%2B0.11%2F12%29%5En ALIGN=MIDDLE  ALT=\"500%2A%281%2B0.11%2F12%29%5En\"   DISABLED_style= \"max-width:90%; height:auto;\" >,\r\n" );
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document.write( "where \"n\" is the number of months.\r\n" );
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document.write( "For example,  for 1 month  (n= 1)\r\n" );
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document.write( "    Future value = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=500%2A%281%2B0.11%2F12%29%5E1 ALIGN=MIDDLE  ALT=\"500%2A%281%2B0.11%2F12%29%5E1\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 504.58 dollars.\r\n" );
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document.write( "Next, for 6 months\r\n" );
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document.write( "    Future value = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=500%2A%281%2B0.11%2F12%29%5E6 ALIGN=MIDDLE  ALT=\"500%2A%281%2B0.11%2F12%29%5E6\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 528.14 dollars.\r\n" );
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document.write( "Do the rest by the same way.\r\n" );
document.write( "</PRE>\r<BR>\n" );
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document.write( "&nbsp;&nbsp;&nbsp;&nbsp;- <A  rel=nofollow HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Compound-interest-percentage-problem.lesson>Compound interest percentage problems</A> \r<BR>\n" );
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document.write( "Read it and become an expert in this area.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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