document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1207160>Question 1207160</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Arianna invested $1,500 into a savings account that earns an annual<BR>\n" );
document.write( "interest rate of 5%. The interest is compounded monthly. Which is<BR>\n" );
document.write( "the total amount Arianna will have in the account in 4 years?<BR>\n" );
document.write( "Ⓐ $1,603.19<BR>\n" );
document.write( "Ⓑ $1,800<BR>\n" );
document.write( "Ⓒ $1,831.34<BR>\n" );
document.write( "Ⓓ $31,500 </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #844879 by </B><A HREF=/tutors/aboutme.mpl?userid=greenestamps><B>greenestamps(13200)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=greenestamps><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=greenestamps><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=844879\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <br><BR>\n" );
document.write( "The method for finding the answer is as shown in the response from the other tutor.<br><BR>\n" );
document.write( "If this is a multiple choice question on a timed test, then the correct answer choice can be found quickly with a bit of estimation and simple mental arithmetic.<br><BR>\n" );
document.write( "If the interest were simple interest instead of compound interest, then the interest on $1500 at 5% per year would be $75 a year, or $300 for 4 years.  So answer choice B would be the answer for simple interest.  Since the problem is with compound interest, the amount at the end of 4 years must be a bit more than $1800.  So answer choices A and B can't be right.<br><BR>\n" );
document.write( "Answer choice C is a bit more than $1800, as required; answer choice D is unreasonable. So<br><BR>\n" );
document.write( "ANSWER: C<br><BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );