document.write( "Question 130283: If P dollars is invested in a bank that coumpounds interest n times a year, the value of the account after t years is found evaluating P(1 + i/n)^nt where i is the annual interest rate (as a decimal number). Find the value of an account for which P=$1000, i=5%, n=2 and t=3 years. \n" ); document.write( "

Algebra.Com's Answer #95149 by checkley71(8403) $\"\"$ $\"About$

You can put this solution on YOUR website!
P(1+i/n)^nt
\n" ); document.write( "1000(1+.05/2)^2*3
\n" ); document.write( "1000(1+.025)^6
\n" ); document.write( "1000(1.025)^6
\n" ); document.write( "1000*1.15969=$1,159.69 AMOUNT OF THE INVESTMENT.
\n" ); document.write( " \n" ); document.write( "

\n" );