document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1034183>Question 1034183</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You invest $20,000 in a retirement plan. The plan is expected to have an annual return of 12%. Write a rule for the amount of money available at the beginning of the nth year. What is the balance of the account at the beginning of the 20th year? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #649057 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=649057\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> f = p * (1+r)^n\r<BR>\n" );
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document.write( "f is the future value<BR>\n" );
document.write( "p is the present value<BR>\n" );
document.write( "r is the interest rate per time period.<BR>\n" );
document.write( "n is the number of time periods.\r<BR>\n" );
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document.write( "with annual compounding (1 compounding period per year), r = .12<BR>\n" );
document.write( "with p = 20,000, the formula becomes f = 20,000 * 1.12^n\r<BR>\n" );
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document.write( "at the beginning of the 20th year, the amount in the account will be f = 20,000 * 1.12^20 = 192,925.8619\r<BR>\n" );
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document.write( " </SPAN>\n" );
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