document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=986761>Question 986761</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Present value: Cheryl wants to have 4,600$ in spending money to take on a trip to Disney world in 3 years. How much must she deposit now in a savings account that pays 4% to have the money she needs in three years? \r<BR>\n" );
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document.write( "To have 4600$ in 3 years Cheryl would need to deposit ? $_______ </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #607533 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=607533\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 4600=Po{1+0.04)^3<BR>\n" );
document.write( "ln of both sides<BR>\n" );
document.write( "8.4338=3ln(1+0.04)+ln (Po)<BR>\n" );
document.write( "add logs when the numbers are being multiplied<BR>\n" );
document.write( "8.4338=0.11766+ln(Po)<BR>\n" );
document.write( "8.3161=ln Po.<BR>\n" );
document.write( "Raise to the e power and now round (I rounded here, but keep it unrounded on calculator)<BR>\n" );
document.write( "$4089.38<BR>\n" );
document.write( "4089.38(1.04)^3=<BR>\n" );
document.write( "(1.04^3=1.1248<BR>\n" );
document.write( "4089.38*1.1248=$4600. </SPAN>\n" );
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