document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=130854>Question 130854</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A bank offers a savings bond with an interest rate of 8% per year compounded annually. How much money would an individual invest so that the value of the investment after 15 years is $7000? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #95699 by </B><A HREF=/tutors/aboutme.mpl?userid=checkley71><B>checkley71(8403)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=checkley71><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=95699\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 7000=X(1+.08)^15<BR>\n" );
document.write( "7000=X(1.08)^15<BR>\n" );
document.write( "7000=X*3.172<BR>\n" );
document.write( "X=7000/3.172<BR>\n" );
document.write( "X=$2206.81 IS THE AMOUNT OF THE ORIGINAL INVESTMENT. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );