document.write( "Question 1177300: Jim invested $15,000 for a period of 2 years at an interest rate of 4.5% compounded annually. \r
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Algebra.Com's Answer #806103 by ewatrrr(24785) $\"\"$ $\"About$

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document.write( "Hi\r\n" );
document.write( "Compound Interest:\r\n" );
document.write( "A = Accumulated Amount\r\n" );
document.write( "P= principal = \r\n" );
document.write( "r= annual rate = .\r\n" );
document.write( "n= periods per year = \r\n" );
document.write( "t= years =\r\n" );
document.write( "A =   \r\n" );
document.write( "A(1year) = 15000(1.045)^1 = 15675.00  (I = 675)\r\n" );
document.write( "A(2years) = 15000(1.045)^2 = 16380.38  I = 1350 - 675 = 705.38 (2nd year)\r\n" );
document.write( "Simple Interest:\r\n" );
document.write( "I = P*r*t\r\n" );
document.write( "15000(.045)(1) = $675\r\n" );
document.write( "15000(.045)(2) =  1350 - 675 = $675 second year\r\n" );
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document.write( "Wish You the Best in your Studies.\r\n" );
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