document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=743689>Question 743689</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Please help with this question:\r<BR>\n" );
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document.write( "If your goal was to make an investment today and have it grow to be $50,000 in 30 years at a simple interest rate of 9.23%, how much would you have to invest today in order to achieve that goal? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #453021 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=453021\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> If your goal was to make an investment today and have it grow to be $50,000 in 30 years at a simple interest rate of 9.23%, how much would you have to invest today in order to achieve that goal?<BR>\n" );
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document.write( "A(t) = P(1+rt)<BR>\n" );
document.write( "50,000 = P(1+ 0.0923*10)<BR>\n" );
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document.write( "P = 50000/(1.923)<BR>\n" );
document.write( "P = $26,001.04<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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