document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=955760>Question 955760</A>: <I><SPAN STYLE=\"word-break: break-all;\"> James and susan wishes to save 10,000 in 2 years. how much money should they set aside now at 6% compounded monthly in order to reach their goal. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #583874 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=583874\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> James and susan wishes to save 10,000 in 2 years. how much money should they set aside now at 6% compounded monthly in order to reach their goal.<BR>\n" );
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document.write( "2 years = 24 compounding periods<BR>\n" );
document.write( "6% per yr = 0.5% per month<BR>\n" );
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document.write( "10000 = Amt*(1.005)^24<BR>\n" );
document.write( "Amt = 10000/(1.005)^24<BR>\n" );
document.write( "=~ 8871.86<BR>\n" );
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