document.write( "Question 732226: How much money should be invested in an account that earns 9% interest,compounded monthly,if you want to have $500,000 after 20 years? \n" ); document.write( "

Algebra.Com's Answer #447725 by checkley79(3341) $\"\"$ $\"About$

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X(1+.09/12)^20*12=500,000
\n" ); document.write( "X(1+.0075)^240=500,000
\n" ); document.write( "X=(1.0075)^240=500,000
\n" ); document.write( "X*6=500,000
\n" ); document.write( "X=500,000/6
\n" ); document.write( "X=$83,333.33 AMOUNT TO INVEST. \n" ); document.write( "

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