document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1168218>Question 1168218</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose that a loan of $6000 is given at an interest rate of 9% compounded each year.<BR>\n" );
document.write( "Assume that no payments are made on the loan.\r<BR>\n" );
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document.write( "Find the amount owed at the end of 1 year<BR>\n" );
document.write( "Find the amount owed at the end of 2 years </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #851173 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(52864)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ikleyn><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=ikleyn><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=851173\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .<BR>\n" );
document.write( "Suppose that a loan of $6000 is given at an interest rate of 9% compounded each year.<BR>\n" );
document.write( "Assume that no payments are made on the loan.\r<BR>\n" );
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document.write( "(a) Find the amount owed at the end of 1 year<BR>\n" );
document.write( "(b) Find the amount owed at the end of 2 years<BR>\n" );
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document.write( "(a)  The amount owed at the end of 1 year  is  6000 + 0.09*6000 = 6,540 dollars.\r\n" );
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document.write( "(b)  The amount owed at the end of 2 years is  6540 + 0.09*6540 = 7,128.60  dollars.\r\n" );
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document.write( "Solved.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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