document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=309370>Question 309370</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find the lump sum deposited today that will yield the same total amount as this yearly payment (made at the end of each year for 20 years at the given interest rate, compounded annually).\r<BR>\n" );
document.write( "\n" );
document.write( "$10,700 at 8% </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #221286 by </B><A HREF=/tutors/aboutme.mpl?userid=nyc_function><B>nyc_function(2741)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=nyc_function><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=nyc_function><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=221286\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A = P × (1 + r)^n is the formula you need.\r<BR>\n" );
document.write( "\n" );
document.write( "You are solving for A.\r<BR>\n" );
document.write( "\n" );
document.write( "A = 10,700 * (1 + 0.08)^20\r<BR>\n" );
document.write( "\n" );
document.write( "Can you do it now?\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );