document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=150739>Question 150739</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Please Help: How much do you need to set aside in an account that pays 4.9% interest compounded semi-annually to have 75,000.00 in 15 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #110693 by </B><A HREF=/tutors/aboutme.mpl?userid=scott8148><B>scott8148(6628)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=scott8148><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/cgi-bin/show-face.mpl?user=scott8148><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=110693\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> semi-annually means two compoundings per year; each at half the yearly interest rate\r<BR>\n" );
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document.write( "a=p(1+r)^n\r<BR>\n" );
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document.write( "a is 75000 __ p is the principle (what we're trying to find) __ r is 4.9%/2 or .0245 __ n is 15*2 or 30\r<BR>\n" );
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document.write( "75000=p(1.0245)^30 __ dividing by (1.0245)^30 __ 7500/[(1.0245)^30]=p __ 36282.93=p </SPAN>\n" );
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