document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1151570>Question 1151570</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Ahmed invests $1,500 at an interest rate of 4%, compounded quarterly. How much is the investment worth at the end of 6 years?\r<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 #773360 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=773360\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> This is 1500(1+.04/4)^24  where .04/4 is the interest rate for each compounding, or the interest rate /4, for 4 quarters.<BR>\n" );
document.write( "The 24 is 4 quarters/year * 6 years \r<BR>\n" );
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document.write( "round at the end<BR>\n" );
document.write( "=$1904.60 </SPAN>\n" );
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