document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1150075>Question 1150075</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Principal: $16,000\r<BR>\n" );
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document.write( "Interest rate: 24%\r<BR>\n" );
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document.write( "Compounded quarterly\r<BR>\n" );
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document.write( "Calculate the effective rate (APY) of interest for 1 year. (Use the Table provided.) (Do not round intermediate calculations. Round your final answer to the nearest hundredth percent.)\r<BR>\n" );
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document.write( "Effective rate		% </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #771462 by </B><A HREF=/tutors/aboutme.mpl?userid=greenestamps><B>greenestamps(13200)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=greenestamps><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=greenestamps><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=771462\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <br><BR>\n" );
document.write( "We don't have \"the table provided\"....<br><BR>\n" );
document.write( "The (annual) interest rate is 24%; compounded quarterly means 24/4 = 6%, compounded 4 times.<br><BR>\n" );
document.write( "The growth factor is<br><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281%2B%280.24%2F4%29%29%5E4 ALIGN=MIDDLE  ALT=\"%281%2B%280.24%2F4%29%29%5E4\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 1.262477 to 6 decimal places<br><BR>\n" );
document.write( "The APY is 1.262477-1, converted to a percent.<br><BR>\n" );
document.write( "To 2 decimal places, that is 26.25%<br><BR>\n" );
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