document.write( "Question 757541: Jesse has inherited $100000.00 He wants to save $80000 for a trip around the world in 4 years. How much should Jesse put in a saviongs bond that earns 9.4% /a compounded monthly to ensure he has $80000 four years from now? how much of the inherited money is not invested? \n" ); document.write( "
Algebra.Com's Answer #460886 by nerdybill(7384)\"\" \"About 
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Jesse has inherited $100000.00 He wants to save $80000 for a trip around the world in 4 years. How much should Jesse put in a saviongs bond that earns 9.4% /a compounded monthly to ensure he has $80000 four years from now? how much of the inherited money is not invested?
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\n" ); document.write( "Compound interest formula:
\n" ); document.write( "A = P(1 + r/n)^(nt)
\n" ); document.write( "where
\n" ); document.write( "A is amount after time t (80000)
\n" ); document.write( "P is the initial amount (what we're looking for)
\n" ); document.write( "r is rate (.094)
\n" ); document.write( "n is times compounded (12)
\n" ); document.write( "t is years (4)
\n" ); document.write( ".
\n" ); document.write( "80000 = P(1 + .094/12)^(12*4)
\n" ); document.write( "80000 = P(1 + 0.007833333)^(48)
\n" ); document.write( "80000 = P(1.007833333)^(48)
\n" ); document.write( "80000 = P(1.4543149703845279456300933619882)
\n" ); document.write( "80000/1.4543149703845279456300933619882 = P
\n" ); document.write( "$55008.72 = P
\n" ); document.write( ".
\n" ); document.write( "Amount not invested:
\n" ); document.write( "100000-55008.72 = $44991.28
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