document.write( "Question 117554: T=p(1+r)^t
\n" ); document.write( "9 1/2=8000(1+8%)^9 1/2\r
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Algebra.Com's Answer #85606 by Fombitz(32388)\"\" \"About 
You can put this solution on YOUR website!
I think you're trying to set up a Future Value problem.
\n" ); document.write( "for a prinicipal, p, at rate, r, for t periods.
\n" ); document.write( "The capital T and small t are not the same.
\n" ); document.write( "Usually its written like this,
\n" ); document.write( "\"FV=p%281%2Br%29%5Et\"
\n" ); document.write( "where FV is the future value of an investment.
\n" ); document.write( "Your example then becomes
\n" ); document.write( "\"FV=8000%281%2B.08%29%5E%289.5%29\"
\n" ); document.write( "and simplifying
\n" ); document.write( "\"FV=8000%281%2B0.08%29%5E9.5\"
\n" ); document.write( "\"FV=8000%281.08%29%5E9.5\"
\n" ); document.write( "\"FV=8000%282.077%29\"
\n" ); document.write( "\"FV=16619.41\"
\n" ); document.write( "So, if you invest $8,000 at a rate of 8%, in 9 1/2 years, the investment will be worth $16,619.41.
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