document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=727089>Question 727089</A>: <I><SPAN STYLE=\"word-break: break-all;\"> \r<BR>\n" );
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document.write( "james and susan wish to have $10,000 available for their wedding in 2 years. how much money should they set aside now at 6% compounded monthly in order to reach their financial goal. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #444980 by </B><A HREF=/tutors/aboutme.mpl?userid=checkley79><B>checkley79(3341)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=checkley79><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=444980\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> P(1+R/12)^T*12 FOR MONTHLY COMPOUNDING. <BR>\n" );
document.write( "P(1+.06/12)^2*12=10,000<BR>\n" );
document.write( "P(1+.005)^24=10,000<BR>\n" );
document.write( "P(1.005)^24=10,000<BR>\n" );
document.write( "P*1.127=10,000<BR>\n" );
document.write( "P=10,000/1.127<BR>\n" );
document.write( "P=$8.873.11 ANS. </SPAN>\n" );
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