document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1192860>Question 1192860</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Gabriel invested $53,300 in a mutual fund at 3.4% compounded quarterly. After 4 years, the interest rate was changed to 6.4% compounded monthly.\r<BR>\n" );
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document.write( "a) How much was the value of the fund 8 years after the rate change? $<BR>\n" );
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document.write( "b) How much was the total compound interest earned during the whole term? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #824824 by </B><A HREF=/tutors/aboutme.mpl?userid=greenestamps><B>greenestamps(13200)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=greenestamps><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=greenestamps><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=824824\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <br><BR>\n" );
document.write( "The calculations are straightforward; I'll let you do them (with a calculator!)....<br><BR>\n" );
document.write( "Starting value: <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=53300 ALIGN=MIDDLE  ALT=\"53300\"   DISABLED_style= \"max-width:90%; height:auto;\" ><br><BR>\n" );
document.write( "After 4 years at 3.4% compounded quarterly: <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%2853300%29%28%281%2B.034%2F3%29%5E%284%2A4%29%29 ALIGN=MIDDLE  ALT=\"%2853300%29%28%281%2B.034%2F3%29%5E%284%2A4%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><br><BR>\n" );
document.write( "After the additional 8 years at 6.4% compounded monthly: <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%2853300%29%28%281%2B.034%2F3%29%5E%284%2A4%29%29%28%281%2B.064%2F12%29%5E%288%2A12%29%29 ALIGN=MIDDLE  ALT=\"%2853300%29%28%281%2B.034%2F3%29%5E%284%2A4%29%29%28%281%2B.064%2F12%29%5E%288%2A12%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><br><BR>\n" );
document.write( "Then the interest earned is of course that final value, minus the original $53,300.<br><BR>\n" );
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