document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=116932>Question 116932</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I need help!! I'm not sure if i'm working this right. <BR>\n" );
document.write( "a = p(1+r/n)^nt<BR>\n" );
document.write( "solve for a<BR>\n" );
document.write( "p = 4000<BR>\n" );
document.write( "r = 0.07<BR>\n" );
document.write( "n = 1<BR>\n" );
document.write( "t = 8 so...<BR>\n" );
document.write( "a = 4000(1+0.07/1)^(1)(8)<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #85004 by </B><A HREF=/tutors/aboutme.mpl?userid=bucky><B>bucky(2189)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=bucky><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=85004\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> a = p(1+r/n)^nt<BR>\n" );
document.write( "solve for a<BR>\n" );
document.write( "p = 4000<BR>\n" );
document.write( "r = 0.07<BR>\n" );
document.write( "n = 1<BR>\n" );
document.write( "t = 8 so...<BR>\n" );
document.write( "a = 4000(1+0.07/1)^(1)(8) <=== a couple of comments as follows:<BR>\n" );
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document.write( "You should probably put the 0.07/1 in parentheses just as a matter of practice so that others<BR>\n" );
document.write( "can tell that you are just dividing the rate by the number of compounding periods. In other words<BR>\n" );
document.write( "write it as:<BR>\n" );
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document.write( "a = 4000(1+(0.07/1))^(1)(8)<BR>\n" );
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document.write( "It is not necessary to do that, but it might help someone who reads it not mess up what you<BR>\n" );
document.write( "meant.<BR>\n" );
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document.write( "Another comment. You should write the exponent as (1*8) for the same reason. According to the<BR>\n" );
document.write( "rules of algebra, the way you wrote it tells people to raise (1+(0.07/1)) to the first power<BR>\n" );
document.write( "and then to multiply that result by 8 ... that is not what you meant at all. You meant that the<BR>\n" );
document.write( "exponent is (1*8) or 8. So the problem should have the exponent written as:<BR>\n" );
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document.write( "a = 4000(1+(0.07/1))^(1*8)<BR>\n" );
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document.write( "Other than those suggestions, you have the problem correct. You can now simplify it a little.<BR>\n" );
document.write( "Inside the parentheses, divide the 0.07 by 1 to get just 0.07 and then add that to the 1 so <BR>\n" );
document.write( "that the problem reduces to:<BR>\n" );
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document.write( "a = 4000(1.07)^(1*8)<BR>\n" );
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document.write( "multiply out the exponent and the problem becomes:<BR>\n" );
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document.write( "a = 4000(1.07)^8<BR>\n" );
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document.write( "You can now multiply 1.07 times itself 8 times or use a scientific calculator to find that<BR>\n" );
document.write( "1.07^8 = 1.71818618. Substitute that and the problem reduces to:<BR>\n" );
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document.write( "a = 4000*1.71818618<BR>\n" );
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document.write( "and this multiplies out to give:<BR>\n" );
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document.write( "a = 6872.744719<BR>\n" );
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document.write( "which tells you that if you invest $4000 at an interest rate of 7% compounded annually for<BR>\n" );
document.write( "8 years you will have $6872.74 before the government gets its share in the form of income tax.<BR>\n" );
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document.write( "Hope this helps you to figure out how to do problems like this ... You did very well in<BR>\n" );
document.write( "setting up the problem. Keep up the good work!!!<BR>\n" );
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