document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=675287>Question 675287</A>: <I><SPAN STYLE=\"word-break: break-all;\"> This is the word problem I am having problems with. <BR>\n" );
document.write( "You would like to have $4000 in four years for a special vacation following graduation by making deposits at the end of every 6 months in an annuity that pays 7% compounded semiannually. <BR>\n" );
document.write( "A. How much should you deposit at the end of every six months?<BR>\n" );
document.write( "B. How much of the $4000 comes from deposits and how much comes from interest? \r<BR>\n" );
document.write( "\n" );
document.write( "I have tried the formula P=A(r/n)/(1+r/n)^nt -1 but it is not coming out to the correct answers. <BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #419729 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=419729\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> You would like to have $4000 in four years for a special vacation following graduation by making deposits at the end of every 6 months in an annuity that pays 7% compounded semiannually. <BR>\n" );
document.write( "A. How much should you deposit at the end of every six months?<BR>\n" );
document.write( "B. How much of the $4000 comes from deposits and how much comes from interest? <BR>\n" );
document.write( "I have tried the formula P=A(r/n)/(1+r/n)^nt -1 but it is not coming out to the correct answers. \r<BR>\n" );
document.write( "\n" );
document.write( "-------------------------<BR>\n" );
document.write( "P=A(r/n)/(1+r/n)^nt -1<BR>\n" );
document.write( "---<BR>\n" );
document.write( "P = 4000(0.07/2)(1 + (0.07/2)^(2*4) -1<BR>\n" );
document.write( "---<BR>\n" );
document.write( "P = 140(1.3168)-1<BR>\n" );
document.write( "P = $183.35<BR>\n" );
document.write( "=================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );