document.write( "Question 936143: tom saves $300 at the end of each month for 20 years. he invests the money at 14% a compounded monthly. how much will he have saved?
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Algebra.Com's Answer #569665 by ptfile(81) $\"\"$ $\"About$

You can put this solution on YOUR website!

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document.write( "Let A = Periodic amount\r\n" );
document.write( "    R = Interest rate\r\n" );
document.write( "    N = Number of intervals\r\n" );
document.write( "    T = duration of payment\r\n" );
document.write( "   FV = Future Value\r\n" );
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\n" ); document.write( " $\"FV+=+A%28%28%281%2Br%2Fn%29%5E%28nt%29-1%29%2F%28r%2Fn%29%29\"$
\n" ); document.write( " $\"FV+=+300%28%28%281%2B.14%2F12%29%5E%28%2812%29%2820%29%29-1%29%2F%28.14%2F12%29%29\"$
\n" ); document.write( " $\"FV+=+300%28%28%281.011666667%29%5E240-1%29%2F.011666667%29\"$
\n" ); document.write( " $\"FV+=+300%28%28%2816.180271338%29-1%29%2F.011666667%29\"$
\n" ); document.write( " $\"FV+=+300%2815.180271338%2F.011666667%29\"$
\n" ); document.write( " $\"FV+=+300%281301.16607751%29\"$
\n" ); document.write( " $\"FV+=+390349.82\"$
\n" ); document.write( "He saved $390349.82 in 20 years. \n" ); document.write( "

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