document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1179253>Question 1179253</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Don Fletcher has a $1,500 CD that earns 6% annual interest with the interest compounded quarterly.  Find his balance when the CD matures in 2 years. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #808772 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16946)</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=808772\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Find Amount											<BR>\n" );
document.write( "Principal P =	1500										<BR>\n" );
document.write( "Amount=	A										<BR>\n" );
document.write( "years=n	2.00										<BR>\n" );
document.write( "compounded	4	times a year		t							<BR>\n" );
document.write( "Rate =	6.00------>	0.06------r/n = 0.06/4 =0.015							<BR>\n" );
document.write( "Amount =	P*((n+r/n)^n*t										<BR>\n" );
document.write( "											<BR>\n" );
document.write( "Amount =	=	1500	*(	1	+	0.015	)^4*2	<BR>\n" );
document.write( "Amount =	1500	*(	1	+	0.015	)^	8				<BR>\n" );
document.write( "	1500	*(	1.015	)^	8.00						<BR>\n" );
document.write( "Amount =	$1689.74										<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );