# SOLUTION: Yumiko has just had her first child. How much money should she invest at 4% APR compouned monthly to have \$50,000 18 years from now?

Algebra ->  Algebra  -> Customizable Word Problem Solvers  -> Finance -> SOLUTION: Yumiko has just had her first child. How much money should she invest at 4% APR compouned monthly to have \$50,000 18 years from now?      Log On

 Ad: Over 600 Algebra Word Problems at edhelper.com Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help! Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations!

 Word Problems: Money, Business and Interest Solvers Lessons Answers archive Quiz In Depth

 Question 623766: Yumiko has just had her first child. How much money should she invest at 4% APR compouned monthly to have \$50,000 18 years from now?Answer by Alan3354(30993)   (Show Source): You can put this solution on YOUR website!Yumiko has just had her first child. How much money should she invest at 4% APR compouned monthly to have \$50,000 18 years from now? ---------------- A = amount to invest FV = future value in 18 yrs 18 yrs = 216 months --------- FV = A*(1 + 0.04/12)^216 50000 = A*(1 + 0.01/3)^216 A = 50000/((1+0.01/3)^216 A =~ \$24366.77