document.write( "Question 592484: how to get 50000.00 compounded 3% monthly in 20yrs \n" ); document.write( "
Algebra.Com's Answer #375971 by mananth(16946)\"\" \"About 
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Principal P = x
\n" ); document.write( "Amount= 50000
\n" ); document.write( "years=n 20
\n" ); document.write( "compounded 12 times a year
\n" ); document.write( "Rate = 3.00 0.030
\n" ); document.write( "Amount = P*((n+r)/n)^n
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\n" ); document.write( "50000 = x *( 1 + r/n )^ n
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\n" ); document.write( "50000=P(1+0.030 /12)^12 *20
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\n" ); document.write( "50000 =P( 1.00250 )^240
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\n" ); document.write( "50000 /(1.00250)^240=P
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\n" ); document.write( "P= 27461.14
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