document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1195552>Question 1195552</A>: <I><SPAN STYLE=\"word-break: break-all;\"> In 2010 Staci invested $14,000 in a savings account for her newborn son. The account pays 4.6% interest each year. Determine the accrued value of the account in the year 2028, when her son will go to college. Round your answer the nearest cent.\r<BR>\n" );
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document.write( "In the year 2028, the accrued value will be $ </SPAN>\n" );
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document.write( "P = 14,000 is the deposit amount<BR>\n" );
document.write( "r = 0.046 is the decimal form of the interest rate<BR>\n" );
document.write( "n = 1 is the compounding frequency<BR>\n" );
document.write( "t = 18 is the number of years\r<BR>\n" );
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document.write( "Note: I'm assuming annual compound interest\r<BR>\n" );
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document.write( "Answer: <font color=red>$31,455.63</font><BR>\n" );
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