document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=125332>Question 125332</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If a person earns an annual interest rate of 7% on an investment of $1500.00. Write the function that shows how much money the investor has at t,in years.<BR>\n" );
document.write( "I think the answer is P(t)=1500(1.07)^t. Can someone please tell me if I am correct ? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #91852 by </B><A HREF=/tutors/aboutme.mpl?userid=Earlsdon><B>Earlsdon(6294)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Earlsdon><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=91852\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> You are correct!<BR>\n" );
document.write( "Year 1 (t=1), he/she would have $1500(1.07)^1 That's $1500 plus 7% of $1500.<BR>\n" );
document.write( "Year 2 (t=2,) he/she would have ($1500(1.07)1.07 = $1500(1.07)^2<BR>\n" );
document.write( "Year 3 (t=3), he/she would have  (($1500(1.07))1.07)1.07) = ($1500(1.07)^3<BR>\n" );
document.write( "and so on...<BR>\n" );
document.write( "So in t years, he/she would have <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P%28t%29=+%28%241500%29%281.07%29%5Et ALIGN=MIDDLE  ALT=\"P%28t%29=+%28%241500%29%281.07%29%5Et\"   DISABLED_style= \"max-width:90%; height:auto;\" > </SPAN>\n" );
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