document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=943191>Question 943191</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How much money would you have to invest today at 6% APR compounded monthly to accumulate the sum of $200,000 in 40 years? (Round your answer to two decimal places.)  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #575018 by </B><A HREF=/tutors/aboutme.mpl?userid=Alan3354><B>Alan3354(69443)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Alan3354><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=Alan3354><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=575018\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> How much money would you have to invest today at 6% APR compounded monthly to accumulate the sum of $200,000 in 40 years?<BR>\n" );
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document.write( "40 yrs = 480 months<BR>\n" );
document.write( "6% APR = 0.5%/month<BR>\n" );
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document.write( "200000 = Amt*(1 + 0.005)^480<BR>\n" );
document.write( "Amt = 200000/1.005^480<BR>\n" );
document.write( "Amt = $18252.42 </SPAN>\n" );
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