document.write( "Question 926761: Suppose that your long lost relative recently left you an inheritance of $300,000. You decide to invest the
\n" ); document.write( "money into an account:
\n" ); document.write( "You receive monthly payments while it earns 3.25% compounded monthly. If you
\n" ); document.write( "want the payments to last for 40 years, how much should your payments be each month?\r
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Algebra.Com's Answer #562458 by Theo(13342)\"\" \"About 
You can put this solution on YOUR website!
use this online calculator to find the payments per month you will receive.\r
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\n" ); document.write( "\n" ); document.write( "http://www.arachnoid.com/lutusp/finance.html\r
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\n" ); document.write( "\n" ); document.write( "make the following entries into that calculator.
\n" ); document.write( "pv = 300,000
\n" ); document.write( "fv = 0
\n" ); document.write( "np = 40 * 12 = 480
\n" ); document.write( "ir = 3.25 / 12 = .270833
\n" ); document.write( "select payment at end of time period.
\n" ); document.write( "click on pmt.
\n" ); document.write( "the calculator should tell you that the monthly payment will be 1117.62 per month.
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