document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=909166>Question 909166</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Just here to check my answers if am I correct. Its gonna be a long question anyway<BR>\n" );
document.write( "If Im correct no need for solutions, if wrong, well just show the solution and right answer.<BR>\n" );
document.write( "Rules:<BR>\n" );
document.write( "log answer in 6 decimal places(no round-off error, just copy)<BR>\n" );
document.write( "Money( with 2 decimal place, round-off error)\r<BR>\n" );
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document.write( "The Villager of Kieler completes an exploratory study and find the current village tower will need a replacement in 10 years at a cost of $290,000. To finance this amount, the village board will at this time asses it's 958 homeowners with a one time surcharge and then invest this amount in a 10 year Cash Deposit paying 8.25% interest compounded semiannually.\r<BR>\n" );
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document.write( "a.How much will the village of Kieler need to invest at this time in this CD in order to raise the $290,000 in 10 years?<BR>\n" );
document.write( "b.What amount should each homeowner pay as a surcharge?\r<BR>\n" );
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document.write( "Answers:<BR>\n" );
document.write( "a.$129,210.26<BR>\n" );
document.write( "b.$134.88 </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #551706 by </B><A HREF=/tutors/aboutme.mpl?userid=MathTherapy><B>MathTherapy(10552)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=MathTherapy><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/cgi-bin/show-face.mpl?user=MathTherapy><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=551706\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <BR>\n" );
document.write( "Just here to check my answers if am I correct. Its gonna be a long question anyway<BR>\n" );
document.write( "If Im correct no need for solutions, if wrong, well just show the solution and right answer.<BR>\n" );
document.write( "Rules:<BR>\n" );
document.write( "log answer in 6 decimal places(no round-off error, just copy)<BR>\n" );
document.write( "Money( with 2 decimal place, round-off error)\r<BR>\n" );
document.write( "\n" );
document.write( "The Villager of Kieler completes an exploratory study and find the current village tower will need a replacement in 10 years at a cost of $290,000. To finance this amount, the village board will at this time asses it's 958 homeowners with a one time surcharge and then invest this amount in a 10 year Cash Deposit paying 8.25% interest compounded semiannually.\r<BR>\n" );
document.write( "\n" );
document.write( "a.How much will the village of Kieler need to invest at this time in this CD in order to raise the $290,000 in 10 years?<BR>\n" );
document.write( "b.What amount should each homeowner pay as a surcharge?\r<BR>\n" );
document.write( "\n" );
document.write( "Answers:<BR>\n" );
document.write( "a.$129,210.26<BR>\n" );
document.write( "b.$134.88<BR>\n" );
document.write( "<PRE STYLE=\"white-space: pre-wrap; white-space: -moz-pre-wrap; white-space: -pre-wrap; white-space: -o-pre-wrap; word-wrap: break-word;\"><BR>\n" );
document.write( "With P being the present value, we get: <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=log+P+=+log+%28290000%2F1.04125%5E20%29 ALIGN=MIDDLE  ALT=\"log+P+=+log+%28290000%2F1.04125%5E20%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >_____<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P+=+290000%2F1.04125%5E20 ALIGN=MIDDLE  ALT=\"P+=+290000%2F1.04125%5E20\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "Your answer is correct!! The village needs to invest that amount (present value) to raise the $290,000 (future value),<BR>\n" );
document.write( "in 10 years. However, I got $<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=highlight_green%28129210.471006%29 ALIGN=MIDDLE  ALT=\"highlight_green%28129210.471006%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > (to 6 decimal places), and $<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=highlight_green%28129210.47%29 ALIGN=MIDDLE  ALT=\"highlight_green%28129210.47%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > (rounded to 2 decimal places)<BR>\n" );
document.write( "- a difference of just a few cents, maybe caused by rounding. My per-person calculation is exactly what you have.\r<BR>\n" );
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document.write( "Good job!! </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );