document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=116946>Question 116946</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Brad invested $2,400 in a three year CD that pays four percent componded annually. What is the compound interest and amount that will be in the bank after three years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #85017 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=85017\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Brad invested $2,400 in a three year CD that pays four percent componded annually. What is the compound interest and amount that will be in the bank after three years?<BR>\n" );
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document.write( "A(t) = P(1+(r/n))^(nt<BR>\n" );
document.write( "A(3) = 2400(1+0.04)^(3)<BR>\n" );
document.write( "A(3) = 2400*1.1248<BR>\n" );
document.write( "A(3) = $2699.67<BR>\n" );
document.write( "====================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );