document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1195757>Question 1195757</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Interest is compounded semiannually. Find the amount in the account and the interest earned after the given time.<BR>\n" );
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document.write( "Principal $5000<BR>\n" );
document.write( "Rate of Interest 8%<BR>\n" );
document.write( "Time 3 years\r<BR>\n" );
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document.write( "Question content area bottom<BR>\n" );
document.write( "Part 1<BR>\n" );
document.write( "The amount in the account is ​$<BR>\n" );
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document.write( "enter your response here.<BR>\n" );
document.write( "​(Do not round until the final answer. Then round to the nearest cent as​ needed.) </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #828280 by </B><A HREF=/tutors/aboutme.mpl?userid=math_tutor2020><B>math_tutor2020(3817)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=math_tutor2020><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=828280\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font color=black size=3><BR>\n" );
document.write( "P = 5000 = principal<BR>\n" );
document.write( "r = 0.08 = decimal form of the annual interest rate<BR>\n" );
document.write( "n = 2 = number of times we compound the money per year<BR>\n" );
document.write( "t = 3 years\r<BR>\n" );
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document.write( "Use those values to find the following:<BR>\n" );
document.write( "A = P*(1+r/n)^(n*t)<BR>\n" );
document.write( "A = 5000*(1+0.08/2)^(2*3)<BR>\n" );
document.write( "A = 6326.59509248<BR>\n" );
document.write( "A = 6326.60<BR>\n" );
document.write( "This is how much is in the account at the 3 year mark.\r<BR>\n" );
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document.write( "Subtract off the principal to get the interest made<BR>\n" );
document.write( "i = A - P<BR>\n" );
document.write( "i = 6326.60 - 5000<BR>\n" );
document.write( "i = 1326.60\r<BR>\n" );
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document.write( "Answers: <BR>\n" );
document.write( "Account Balance = <font color=red>$6326.60</font><BR>\n" );
document.write( "Interest Earned = <font color=red>$1326.60</font><BR>\n" );
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