document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1193487>Question 1193487</A>: <I><SPAN STYLE=\"word-break: break-all;\"> $4,250 was deposited at the end of every year for 6 years into a fund earning 2.9% compounded annually. After this period, the accumulated money was left in the account for another 8 years at the same interest rate.\r<BR>\n" );
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document.write( "a) Calculate the accumulated amount at the end of the 14-year term. $<BR>\n" );
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document.write( "b) Calculate the total amount of interest earned during the 14-year period. $ </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #825528 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=825528\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> \r<BR>\n" );
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document.write( "the future value of the payments for 6 years is 27,421,81.<BR>\n" );
document.write( "that future value of the payments is then invested for an additional 8 years with no additional payments and grows to 34,468.24.\r<BR>\n" );
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document.write( "that's the accumulated amount at the end of 14 years.\r<BR>\n" );
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document.write( "the payments for 6 years totaled 4250 * 6 = 25,500<BR>\n" );
document.write( "the future value of the payments is 27,421.81.<BR>\n" );
document.write( "the interest earned was 27421.81 minus 25,500 = 1921.81\r<BR>\n" );
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document.write( "that 27421.81 was then invested for 8 years and became 34,468.24 at the end of those 8 years.<BR>\n" );
document.write( "total interest for that growth only period was 34,468.24 minus 27421.81 = 7046.43.\r<BR>\n" );
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document.write( "total interest earned was 7046.43 + 1921.81 = 8968.24.\r<BR>\n" );
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document.write( "that's what i get.<BR>\n" );
document.write( "hopefully it's right.<BR>\n" );
document.write( "let me know how you did and if you have any questions.<BR>\n" );
document.write( "theo\r<BR>\n" );
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