document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=33737>Question 33737</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If four years of college is expected to coast $135000 10 years from now, how much must be deposited now into an account that will average %4 annually in order to save the $135000? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #20158 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=20158\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Future Value = (payment)[(1+i)n-1]/i<BR>\n" );
document.write( "payment= [(future val]i]/[(1+i)^n-1]<BR>\n" );
document.write( "payment=[135000(0.04)]/[1.04^10-1]<BR>\n" );
document.write( "       =5400/0.48=$11244.28 per year.<BR>\n" );
document.write( "For the formula search \"Future Value Annity\" on Google.<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );