document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=961377>Question 961377</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Jean Rich, owner of a local Dunkin' Donuts shop, loaned $14,000 to Mel Lyon to help him open an Internet business. Mel plans to repay Jean at the end of 6 years with 6% interest compounded semiannually. How much will Jean receive at the end of 6 years?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #837953 by </B><A HREF=/tutors/aboutme.mpl?userid=mananth><B>mananth(16946)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=mananth><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=mananth><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=837953\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Using the formula A = P(1 + r/n)^nt\r<BR>\n" );
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document.write( "r = 0.06 rate per year,\r<BR>\n" );
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document.write( "Then solve the equation for A\r<BR>\n" );
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document.write( "A = 14,000.00(1 + 0.06/2)^(2)(6)\r<BR>\n" );
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document.write( "A = 14,000.00(1 + 0.03)(12)\r<BR>\n" );
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document.write( "A = $19,960.65\r<BR>\n" );
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document.write( "Jean will  receive $19,960.65 at the end of 6 years </SPAN>\n" );
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