document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=327111>Question 327111</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How much money would I have if I invest 20,000 at 8% annually and I added 100 dollars per month at the end of 20 years. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #234277 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=234277\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> P is the principal (the initial amount you borrow or deposit)\r<BR>\n" );
document.write( "\n" );
document.write( "r is the annual rate of interest (percentage)\r<BR>\n" );
document.write( "\n" );
document.write( "n is the number of years the amount is deposited or borrowed for.\r<BR>\n" );
document.write( "\n" );
document.write( "A is the amount of money accumulated after n years, including interest.\r<BR>\n" );
document.write( "\n" );
document.write( "When the interest is compounded once a year:\r<BR>\n" );
document.write( "\n" );
document.write( "A = P(1 + r)^n\r<BR>\n" );
document.write( "\n" );
document.write( "A = 20,000(1 + 0.08)^20\r<BR>\n" );
document.write( "\n" );
document.write( "A = 20,000(4.660957144)\r<BR>\n" );
document.write( "\n" );
document.write( "A = 93219.14288 + $100 for 20 years or $2000\r<BR>\n" );
document.write( "\n" );
document.write( "A = 97219.14288 or about $97,219\r<BR>\n" );
document.write( "\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );