document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=22735>Question 22735</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Use formulas: S = P*(1+r/12^12t-1) / (r/12)\r<BR>\n" );
document.write( "\n" );
document.write( "S stands for the accumulated savings when you invest P amount every month for t years at an interest rate r which is compounded monthly.\r<BR>\n" );
document.write( "\n" );
document.write( "If you invest $250. in an account each month beginning when you are 30 years old, how much will you have at 55 when you plan to retire, if it is invested at 5% compounded monthly. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #11126 by </B><A HREF=/tutors/aboutme.mpl?userid=Paul><B>Paul(988)</B></A><img src=\"/images/stars/stars-11.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Paul><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=11126\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 55-30=25 years.<BR>\n" );
document.write( "A= 250(1+0.05/0.12)^25\r<BR>\n" );
document.write( "\n" );
document.write( "Solve it from there. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );