document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=972037>Question 972037</A>: <I><SPAN STYLE=\"word-break: break-all;\"> After the birth of their first child, the Bartons plan to set up an account to pay for her college education. The goal is to save $30,000 over the next 18 years, and their financial planner suggests a bond fund that historically pays <BR>\n" );
document.write( "6.2 % interest compounded monthly. <BR>\n" );
document.write( "How much should they put into the fund now? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #594438 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=594438\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 30000= P {1 + .062/12}^216   interest over compounding period raised to the number of times compounded in 18 years\r<BR>\n" );
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document.write( " {1 + .062/12}^216}=3.04386<BR>\n" );
document.write( "=$9855.90 </SPAN>\n" );
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