document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1175893>Question 1175893</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How much would be the difference in the total interest in an investment at the end of 8 months: 7% at simple interest or 6% compounded monthly for principal of 100,000? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #801832 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=801832\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> I=prt=100000*0.07*(2/3)<BR>\n" );
document.write( "=$4666.67 for simple interest<BR>\n" );
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document.write( "P=Po(1+(.06/12))^8 for compounding monthly,<BR>\n" );
document.write( "P=$104070.70,<BR>\n" );
document.write( "so interest is $4070.70<BR>\n" );
document.write( "$595.97 more with simple interest.<BR>\n" );
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