document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1210365>Question 1210365</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If the explorer Columbus could have invested $1 at 4% compound interest at the tine of discovery of the new world (1492) he would have x amount.  Determine amount.  \r<BR>\n" );
document.write( "\n" );
document.write( "Statement does not indicate how interest is compounded.\r<BR>\n" );
document.write( "\n" );
document.write( "Year of book information was in - 1965.\r<BR>\n" );
document.write( "\n" );
document.write( "4% = .04\r<BR>\n" );
document.write( "\n" );
document.write( "1965 - 1492 = 473 years.\r<BR>\n" );
document.write( "\n" );
document.write( "Not sure how to solve.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\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 #852096 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(52776)</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=852096\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .<BR>\n" );
document.write( "If the explorer Columbus could have invested $1 at 4% compound interest at the <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=highlight%28cross%28tine%29%29 ALIGN=MIDDLE  ALT=\"highlight%28cross%28tine%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > <U>time</U> <BR>\n" );
document.write( "of discovery of the new world (1492) he would have x amount.  Determine amount.  \r<BR>\n" );
document.write( "\n" );
document.write( "Statement does not indicate how interest is compounded.\r<BR>\n" );
document.write( "\n" );
document.write( "Year of book information was in - 1965.\r<BR>\n" );
document.write( "\n" );
document.write( "4% = .04\r<BR>\n" );
document.write( "\n" );
document.write( "1965 - 1492 = 473 years.\r<BR>\n" );
document.write( "\n" );
document.write( "Not sure how to solve.<BR>\n" );
document.write( "~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<PRE STYLE=\"white-space: pre-wrap; white-space: -moz-pre-wrap; white-space: -pre-wrap; white-space: -o-pre-wrap; word-wrap: break-word;\">\r\n" );
document.write( "This problem is about one-time deposit of $1, compounded annually at the annual interest rate of 4%.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Use the standard formula for the future value\r\n" );
document.write( "\r\n" );
document.write( "    FV = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A%2A%281%2Br%29%5En ALIGN=MIDDLE  ALT=\"A%2A%281%2Br%29%5En\"   DISABLED_style= \"max-width:90%; height:auto;\" >,\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "where A is the initial principal, \r\n" );
document.write( "\r\n" );
document.write( "      r is the annual interest presented as a decimal,\r\n" );
document.write( "\r\n" );
document.write( "      n is the number of years.\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "Substitute the given values into the formula and get the future value\r\n" );
document.write( "\r\n" );
document.write( "    FV = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1%2A%281%2B0.04%29%5E473 ALIGN=MIDDLE  ALT=\"1%2A%281%2B0.04%29%5E473\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 113,964,473.46  dollars.    <<<---===  <U>ANSWER</U>\r\n" );
document.write( "</PRE>\r<BR>\n" );
document.write( "\n" );
document.write( "Solved.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "For whole history about &nbsp;Cristopher &nbsp;Columbus, &nbsp;his life, &nbsp;ideas and voyages, &nbsp;read this &nbsp;Wikipedia article\r<BR>\n" );
document.write( "\n" );
document.write( "<A  rel=nofollow HREF=https://en.wikipedia.org/wiki/Christopher_Columbus>https://en.wikipedia.org/wiki/Christopher_Columbus</A>\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );