document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1160383>Question 1160383</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Hi! I know I need to solve this question with the A=P(1+r/n)^nt but when I submitted my answer I got it incorrect and I'm not sure where I went wrong. \r<BR>\n" );
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document.write( "If $17900 is invested at an interest rate of 7% per year, find the value of the investment at the end of 5 years for the following compounding methods.\r<BR>\n" );
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document.write( "Annual<BR>\n" );
document.write( "Semi-annual<BR>\n" );
document.write( "Monthly<BR>\n" );
document.write( "Daily <BR>\n" );
document.write( "Continously\r<BR>\n" );
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document.write( "I got both the monthly ($25375.5) and the continously ($25401.3) answers correct but I don't know where I went wrong for annual, semi-annual, and daily. \r<BR>\n" );
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document.write( "Thank you for any help in advance. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #783664 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=783664\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> annual is 17900(1.07)^5=$25,105.68<BR>\n" );
document.write( "semi-annual is 17900(1.035)^10=$25,249.72<BR>\n" );
document.write( "monthly is 17900(1+(.07/12))^60=$25375.49, as you wrote<BR>\n" );
document.write( "daily is 17900(1+(.07/365))^1825=$25,400.46<BR>\n" );
document.write( "continuously is 17900*e^(0.35)=$25401.31\r<BR>\n" );
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document.write( "rounding too soon can be a problem, but the amounts should gradually increase to continuously </SPAN>\n" );
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