document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=86995>Question 86995</A>: <I><SPAN STYLE=\"word-break: break-all;\"> PLEASE HELP ME I NEED HELP UNDERSTANDING HOW TO SOLVE THEM STEP BY STEP....\r<BR>\n" );
document.write( "\n" );
document.write( "Problem #8<BR>\n" );
document.write( "Which of the following investments is larger after 19 years?\r<BR>\n" );
document.write( "\n" );
document.write( "  (a)  $7500 is deposited annually and earns 4.5% interest compounded annually.<BR>\n" );
document.write( "  (b)  $600 is deposited monthly and earns 4.5% interest compounded monthly.\r<BR>\n" );
document.write( "\n" );
document.write( "Problem #9<BR>\n" );
document.write( "	Find monthly payment.\r<BR>\n" );
document.write( "\n" );
document.write( "In order to purchase a home, a family borrows $26000 at 10.8 % for 15 yr. What is their monthly payment? Round the answer to the nearest cent.<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #62960 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=62960\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> #8\r<BR>\n" );
document.write( "\n" );
document.write( "a)\r<BR>\n" );
document.write( "\n" );
document.write( "Let p=7500, r=0.045, n=1, and t=19 and plug them into  <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=p%281%2Br%2Fn%29%5E%28n%2At%29 ALIGN=MIDDLE  ALT=\"A=p%281%2Br%2Fn%29%5E%28n%2At%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=7500%281%2B0.045%2F1%29%5E%281%2A19%29 ALIGN=MIDDLE  ALT=\"A=7500%281%2B0.045%2F1%29%5E%281%2A19%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >       Start with the given expression<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=7500%281%2B0.045%29%5E%281%2A19%29 ALIGN=MIDDLE  ALT=\"A=7500%281%2B0.045%29%5E%281%2A19%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >     Divide 0.045 by 1 to get 0.045<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=7500%281%2B0.045%29%5E%2819%29 ALIGN=MIDDLE  ALT=\"A=7500%281%2B0.045%29%5E%2819%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >     Multiply the exponents 1 and 19 to get 19 <BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=7500%281.045%29%5E%2819%29 ALIGN=MIDDLE  ALT=\"A=7500%281.045%29%5E%2819%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >       Add 1 and 0.045 to get 1.045<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=7500%282.30786031084919%29 ALIGN=MIDDLE  ALT=\"A=7500%282.30786031084919%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >      Raise 1.045 to the 19 th power to get 2.30786031084919<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=17308.9523313689 ALIGN=MIDDLE  ALT=\"A=17308.9523313689\"   DISABLED_style= \"max-width:90%; height:auto;\" >       Multiply 7500 and 2.30786031084919 to get 17308.9523313689\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "So the return is $17,308.95\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "b)\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Let p=600, r=0.045, n=12, and t=19 and plug them into  <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=p%281%2Br%2Fn%29%5E%28n%2At%29 ALIGN=MIDDLE  ALT=\"A=p%281%2Br%2Fn%29%5E%28n%2At%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=600%281%2B0.045%2F12%29%5E%2812%2A19%29 ALIGN=MIDDLE  ALT=\"A=600%281%2B0.045%2F12%29%5E%2812%2A19%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >       Start with the given expression<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=600%281%2B0.00375%29%5E%2812%2A19%29 ALIGN=MIDDLE  ALT=\"A=600%281%2B0.00375%29%5E%2812%2A19%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >     Divide 0.045 by 12 to get 0.00375<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=600%281%2B0.00375%29%5E%28228%29 ALIGN=MIDDLE  ALT=\"A=600%281%2B0.00375%29%5E%28228%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >     Multiply the exponents 12 and 19 to get 228 <BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=600%281.00375%29%5E%28228%29 ALIGN=MIDDLE  ALT=\"A=600%281.00375%29%5E%28228%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >       Add 1 and 0.00375 to get 1.00375<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=600%282.3476172358424%29 ALIGN=MIDDLE  ALT=\"A=600%282.3476172358424%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >      Raise 1.00375 to the 228 th power to get 2.3476172358424<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A=1408.57034150544 ALIGN=MIDDLE  ALT=\"A=1408.57034150544\"   DISABLED_style= \"max-width:90%; height:auto;\" >       Multiply 600 and 2.3476172358424 to get 1408.57034150544\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "So the return is $1408.57\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "So the $7,500 investment is larger after 19 years\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "----------------------------------------------------------------------\r<BR>\n" );
document.write( "\n" );
document.write( "#9\r<BR>\n" );
document.write( "\n" );
document.write( "To calculate the monthly payment, use this formula:\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=Monthly_Payment=%28P%2AR%2F%281-%281%2BR%29%5E%28-n%29%29%29 ALIGN=MIDDLE  ALT=\"Monthly_Payment=%28P%2AR%2F%281-%281%2BR%29%5E%28-n%29%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > where P is the principal (i.e. the amount loaned out), R is the periodic interest rate (in decimal form) and n is the number of monthly payments\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "First lets calculate R:\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=R=10.8%2F%2812%2A100%29=0.009 ALIGN=MIDDLE  ALT=\"R=10.8%2F%2812%2A100%29=0.009\"   DISABLED_style= \"max-width:90%; height:auto;\" > To find the periodic interest rate, divide the APR (this is given as 10.8%) by the number of months in a year. Also divide the APR by 100 to convert the percentage to a decimal\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=Monthly_Payment=%2826000%2A0.009%2F%281-%281%2B0.009%29%5E%28-15%2A12%29%29%29 ALIGN=MIDDLE  ALT=\"Monthly_Payment=%2826000%2A0.009%2F%281-%281%2B0.009%29%5E%28-15%2A12%29%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Start with the given expression\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=Monthly_Payment=%2826000%2A0.009%2F%281-%281.009%29%5E%28-15%2A12%29%29%29 ALIGN=MIDDLE  ALT=\"Monthly_Payment=%2826000%2A0.009%2F%281-%281.009%29%5E%28-15%2A12%29%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Add <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1%2B0.009 ALIGN=MIDDLE  ALT=\"1%2B0.009\"   DISABLED_style= \"max-width:90%; height:auto;\" > to get 1.009\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=Monthly_Payment=%2826000%2A0.009%2F%281-%281.009%29%5E%28-180%29%29%29 ALIGN=MIDDLE  ALT=\"Monthly_Payment=%2826000%2A0.009%2F%281-%281.009%29%5E%28-180%29%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Multiply <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=-15%2A12 ALIGN=MIDDLE  ALT=\"-15%2A12\"   DISABLED_style= \"max-width:90%; height:auto;\" > to get -180\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=Monthly_Payment=%2826000%2A0.009%2F%281-%280.199337991176801%29%29%29 ALIGN=MIDDLE  ALT=\"Monthly_Payment=%2826000%2A0.009%2F%281-%280.199337991176801%29%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Raise 1.009 to the -180 power\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=Monthly_Payment=%2826000%2A0.009%2F%280.800662008823199%29%29%29 ALIGN=MIDDLE  ALT=\"Monthly_Payment=%2826000%2A0.009%2F%280.800662008823199%29%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Subtract <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1-0.199337991176801 ALIGN=MIDDLE  ALT=\"1-0.199337991176801\"   DISABLED_style= \"max-width:90%; height:auto;\" > to get 0.800662008823199\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=Monthly_Payment=%28234%2F%280.800662008823199%29%29%29 ALIGN=MIDDLE  ALT=\"Monthly_Payment=%28234%2F%280.800662008823199%29%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Multiply <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=26000%2A0.009 ALIGN=MIDDLE  ALT=\"26000%2A0.009\"   DISABLED_style= \"max-width:90%; height:auto;\" > to get 234\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=Monthly_Payment=%28292.258153154949%29%29%29 ALIGN=MIDDLE  ALT=\"Monthly_Payment=%28292.258153154949%29%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > Divide 234 by 0.800662008823199 to get 292.258153154949\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "So the monthly payment, rounded to the nearest cent, is roughly $292.26<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );