document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=116300>Question 116300</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I NEED HELP WITH THIS PROBLEM TUTORS. THANKS<BR>\n" );
document.write( " THE FORMULA FOR CALCULATING THE AMOUNT OF MONEY RETURNED FOR AN INITIAL DEPOSIT INTO A BANK ACCOUNT OR CD )CERTIFICATE OF DEPOSIT) IS GIVEN BY<BR>\n" );
document.write( "A=P[1+R/N]<BR>\n" );
document.write( "A=AMOUNT OF THE RETURN<BR>\n" );
document.write( "P=PRINCIPAL AMOUNT INITIALLY DEPOSITED<BR>\n" );
document.write( "r=the annual interest rate (expressed as a decimal)<BR>\n" );
document.write( "n=the number of compound periods in one year.<BR>\n" );
document.write( "t= is the number of years.\r<BR>\n" );
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document.write( "CARRY ALL CALUCULATIONS TO SIX DECIMALS ON EACH INTERMEDIATE STEP, THEN ROUND THE FINAL ANSWER TO THE NEAREST CENT.\r<BR>\n" );
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document.write( "sUPPOSE YOU DEPOSIT $4,000 FOR 8 YEARS AT A RATE OF 7%\r<BR>\n" );
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document.write( "A) CALCULATE THE RETURN (A) IF THE BANK COMPOUNDS ANNUALLY (N=1). ROUND YOUR ANSWER TO THE HUNDRETH'S PLACE.<BR>\n" );
document.write( "ANSWER:<BR>\n" );
document.write( "SHOW YOUR WORK:\r<BR>\n" );
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document.write( "B) CALCULATE THE RETURN (A) IF THE BANK COMPOUNDS MONTHLY (N=12).ROUND YOU ANSWER TO THE NEAREST HUNDRETH'S PLACE.<BR>\n" );
document.write( "ANSWER:<BR>\n" );
document.write( "SHOW YOUR WORK:\r<BR>\n" );
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document.write( "C) DOES COMPOUNDING ANNUALLY OR MONTHLY YIELD MORE INTEREST? EXPLAIN WHY?<BR>\n" );
document.write( "ANSWER:<BR>\n" );
document.write( "SHOW YOUR WORK:\r<BR>\n" );
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document.write( "D) IF A BANK COMPOUNDS CONTINUOUSLY, THEN THE FORMULA USED IS A=Pe^rt<BR>\n" );
document.write( "   were e is a constant and equals approximatly 2.7183. Calculate A with continuous compounding. Round your answer to the hundreth's place.<BR>\n" );
document.write( "answer:<BR>\n" );
document.write( "show your work:\r<BR>\n" );
document.write( "\n" );
document.write( "E) A COMMONLY ASKED QUESTION IS,\"HOW LONG WILL IT TAKE TO DOUBLE MY MONEY?\" AT 7% INTEREST RATE AND CONTINUOUS COMPOUNDING, WHAT IS THE ANSWER? ROUND YOUR ANSWER TO THE HUNDRETH'S PLACE.<BR>\n" );
document.write( "ANSWER:<BR>\n" );
document.write( "SHOW YOUR WORK.\r<BR>\n" );
document.write( "\n" );
document.write( "NEED HELP ASAP. THANK YOU VERY MUCH TUTOR!!<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #84590 by </B><A HREF=/tutors/aboutme.mpl?userid=MathLover1><B>MathLover1(20849)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=MathLover1><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=MathLover1><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=84590\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+P+%281+%2B+r%2Fn%29%5E%28nt%29 ALIGN=MIDDLE  ALT=\"A+=+P+%281+%2B+r%2Fn%29%5E%28nt%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "a)\r<BR>\n" );
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document.write( "b)\r<BR>\n" );
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document.write( " \r<BR>\n" );
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document.write( "c)\r<BR>\n" );
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document.write( "compounding monthly yield more interest; the more frequently an account pays interest, the faster you can start earning interest on interest\r<BR>\n" );
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document.write( "Compounded annually:\r<BR>\n" );
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document.write( "	<BR>\n" );
document.write( "Compounded monthly: \r<BR>\n" );
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document.write( "d)\r<BR>\n" );
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document.write( "let\r<BR>\n" );
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document.write( "answer:\r<BR>\n" );
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document.write( "answer:\r<BR>\n" );
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