document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1194138>Question 1194138</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Emmerson invests N$100,000.00 on a monthly basis, at the end of each month at an interest rate of 8.5% compounded quarterly.<BR>\n" );
document.write( "a)	How much will he have after 3.5 years<BR>\n" );
document.write( "b)	How much interest does he earn on a monthly basis? (Hint: Calculate the monthly average)  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #826251 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=826251\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> payments at the end of each month = 100,000.<BR>\n" );
document.write( "interest rate is 8.5% compounded quarterly.<BR>\n" );
document.write( "the quarterly interest rate is 8.5% / 4 = 2.125%.<BR>\n" );
document.write( "the number of quarters is equal to 3.5 years * 4 = 14.<BR>\n" );
document.write( "the future value of the stream of these payments is equal to 1,610,814.56.<BR>\n" );
document.write( "the total interest earned is 1,610,814.56 minus 14 * 100,000 = 210,814.56.<BR>\n" );
document.write( "divide that by 14 months to get average interest earned per month = 15,058.18.<BR>\n" );
document.write( "the ti-ba-ii business analyst calculator was used to get these results.<BR>\n" );
document.write( "comparable results can be obtained online by using the arachnoid financial calculator found at <a  rel=nofollow HREF= \"https://arachnoid.com/finance/index.html\" target = \"_blank\">https://arachnoid.com/finance/index.html</a><BR>\n" );
document.write( "the results from using this calculator are shown below<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2022/051001.jpg\">\r<BR>\n" );
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document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );