document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=376720>Question 376720</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Determine the principal P that must be invested at rate r, compounded monthly, so that $500,000 with be available for retirement in t years:\r<BR>\n" );
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document.write( "r=12%, t=40 </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #267967 by </B><A HREF=/tutors/aboutme.mpl?userid=rfer><B>rfer(16322)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=rfer><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=267967\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 500000=P(1+0.12/12)^40*480<BR>\n" );
document.write( "P=500000/(1.01)^480<BR>\n" );
document.write( "P=500000/118.648<BR>\n" );
document.write( "P=4214.15 </SPAN>\n" );
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