<PRE><B>Question 59930</B>
a. What will be the amount in the account if $800 is invested at 2.4% compounded monthly for 5 years? 
A=P(1+r/n)^(nt)
A=800(1+0.024/12)^(12*5)
A=800(1.002)^60
A=800*1.12736
A=$901.89
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b. What amount should a person place in an account if she wishes to have $1500 in 4 years if the money is compounded quarterly at an interest rate of 3.5%? 
1500=P(1+0.035/4)^(4*4)
1500=P(1.00875)^16
1500=P(1.14957
P=$1304.83
Cheers,
Stan H.</PRE>