document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1178230>Question 1178230</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find out how much a retirement account based on a principal of $124247 compounded 3 % quarterly after 20 years is worth? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #807430 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16949)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=807430\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> \r<BR>\n" );
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document.write( "principal of $124247 =P<BR>\n" );
document.write( "compounded 3 %   r=3* = 0.03<BR>\n" );
document.write( "quarterly 4 times a year n=4<BR>\n" );
document.write( "after 20 years t\r<BR>\n" );
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document.write( "A = P(1 + r/n)^nt\r<BR>\n" );
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document.write( "A = 124,247.00(1 + 0.03/4)(4)(20)<BR>\n" );
document.write( "A = 124,247.00(1 + 0.0075)(80)<BR>\n" );
document.write( "A = $225,886.51\r<BR>\n" );
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document.write( "The total amount accrued,  with compound interest on a principal of $124,247.00 at  3% per year compounded 4 times per year over 20 years is $225,886.51. </SPAN>\n" );
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