document.write( "Question 1157553: You invest $1500 at an interest rate of 8% per year. Find the amount after
\n" ); document.write( "3 years if interest is compounded monthly. \n" ); document.write( "

Algebra.Com's Answer #780435 by josmiceli(19441) $\"\"$ $\"About$

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$\"+A+=+P%2A%28+1+%2B+r%2Fn+%29%5E%28+n%2At+%29+\"$
\n" ); document.write( " $\"+P+=+1500+\"$
\n" ); document.write( " $\"+r+=+.08+\"$
\n" ); document.write( " $\"+n+=+12+\"$
\n" ); document.write( " $\"+t+=+3+\"$
\n" ); document.write( " $\"+A+=+1500%2A%28+1+%2B+.08%2F12+%29%5E%28+12%2A3+%29+\"$
\n" ); document.write( " $\"+A+=+1500%2A%28+1+%2B+.00667+%29%5E36+\"$
\n" ); document.write( " $\"+A+=+1500%2A1.00667%5E36+\"$
\n" ); document.write( " $\"+A+=+1500%2A1.27024+\"$
\n" ); document.write( " $\"+A+=+1905.36+\"$
\n" ); document.write( "$1,905.36
\n" ); document.write( "--------------
\n" ); document.write( "check:
\n" ); document.write( " $\"+A+=+1500%2A1.00667%5E36+\"$
\n" ); document.write( " $\"+19508.36+=+1500%2A1.00667%5E36+\"$
\n" ); document.write( " $\"+1.27023+=+1.00667%5E36+\"$
\n" ); document.write( " $\"+1.27023+=+1.27025+\"$
\n" ); document.write( "Error due to rounding off
\n" ); document.write( "OK \n" ); document.write( "

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