document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=310669>Question 310669</A>: <I><SPAN STYLE=\"word-break: break-all;\"> how much money would i have to put in a cd to draw $500 a month   joinnow2000@aol.com </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #222151 by </B><A HREF=/tutors/aboutme.mpl?userid=solver91311><B>solver91311(24713)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=solver91311><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=solver91311><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=222151\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font face=\"Garamond\" size=\"+2\">\r<BR>\n" );
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document.write( "That would depend a great deal on the annual interest rate and, to a lesser extent, on the compounding frequency, and if you are just considering an investment that will earn that much that will be allowed to remain in the account or if you want to actually draw out $500.00 every month as an annuity payment.\r<BR>\n" );
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document.write( "Let's presume <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large r\"> annual interest expressed as a decimal. Let's assume that the institution actually pays one-twelfth of the annual interest each month and that you want a monthly pay annuity.\r<BR>\n" );
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document.write( "Let <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large P\"> be the principal amount invested in the CD.  Then you need:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ \frac{Pr}{12}\ =\ 500\">\r<BR>\n" );
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document.write( "Solving for <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large P\">\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ P\ =\ \frac{6000}{r}\">\r<BR>\n" );
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document.write( "Right now, June 2, 2010, the best you will be able to do is <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large r\ \approx\ 1.5%\">\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ P\ =\ \frac{6000}{0.015}\ =\ $400,000\">\r<BR>\n" );
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document.write( "John<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE e^{i\pi} + 1 = 0\"><BR>\n" );
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