document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=744675>Question 744675</A>: <I><SPAN STYLE=\"word-break: break-all;\"> \r<BR>\n" );
document.write( "\n" );
document.write( "Charlie wants to buy a $1000 TV in 6 months. How much should he invest now at 3% simple interest to have the money in 6 months? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #453511 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=453511\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> P(1+R)^T<BR>\n" );
document.write( "R=.03/2 (3% FOR 6 MO.)<BR>\n" );
document.write( "T=.5 (6 MO.)<BR>\n" );
document.write( "X(1+.03/2)^.5=1,000<BR>\n" );
document.write( "X(1+.015)^.5=1,000<BR>\n" );
document.write( "X(1.015)^.5=1,000<BR>\n" );
document.write( "1.0124X=1,000<BR>\n" );
document.write( "X=1,000/1.0124<BR>\n" );
document.write( "X=$987.75 NEEDS TO BE INVESTED. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );