document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1039459>Question 1039459</A>: <I><SPAN STYLE=\"word-break: break-all;\"> In order to accumulate enough money for a down payment on a&#8203; house, a couple deposits <BR>\n" );
document.write( "$ 513 per month into an account paying 3% compounded monthly. If payments are made at the end of each&#8203; period, how much money will be in the account in 6 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #654243 by </B><A HREF=/tutors/aboutme.mpl?userid=Aldorozos><B>Aldorozos(172)</B></A><img src=\"/images/stars/stars-09.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Aldorozos><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=654243\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> \r<BR>\n" );
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document.write( "interest rate <BR>\n" );
document.write( " % (r)  annually<BR>\n" );
document.write( " monthly    <BR>\n" );
document.write( "  <BR>\n" );
document.write( "number of years <BR>\n" );
document.write( "  (n) <BR>\n" );
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document.write( "payment frequency (k) annually semiannually<BR>\n" );
document.write( " quarterly monthly    <BR>\n" );
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document.write( "payment amount <BR>\n" );
document.write( "  (PMT)   <BR>\n" );
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document.write( "payment due at <BR>\n" );
document.write( "beginning end of period    <BR>\n" );
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document.write( "present value <BR>\n" );
document.write( "  (PV) <BR>\n" );
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document.write( "  6dgt10dgt14dgt18dgt22dgt26dgt30dgt34dgt38dgt42dgt46dgt50dgt  <BR>\n" );
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document.write( "Please see below to understand the concept of future value of equal payments:<BR>\n" );
document.write( "https://www.google.com/search?q=future+value+of+payments+formula&biw=1280&bih=705&tbm=isch&tbo=u&source=univ&sa=X&sqi=2&ved=0ahUKEwiYpd6J1snNAhWBYyYKHWjXAYMQsAQISg\r<BR>\n" );
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document.write( "Once you get some ideas go to this site if you don't want to do the calculation:\r<BR>\n" );
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document.write( "Use this site:<BR>\n" );
document.write( "http://keisan.casio.com/exec/system/1234231998\r<BR>\n" );
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document.write( "3% is annually. Number of years is 6 but compounded monthly.  \r<BR>\n" );
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document.write( "No. year future value interest effective rate <BR>\n" );
document.write( "1  513 0 0% <BR>\n" );
document.write( "2  1,027.28 1.28 0.125% <BR>\n" );
document.write( "3  1,542.85 3.85 0.25% <BR>\n" );
document.write( "4  2,059.71 7.71 0.376% <BR>\n" );
document.write( "5  2,577.86 12.86 0.501% <BR>\n" );
document.write( "6  3,097.3 19.3 0.627% <BR>\n" );
document.write( "7  3,618.04 27.04 0.753% <BR>\n" );
document.write( "8  4,140.09 36.09 0.879% <BR>\n" );
document.write( "9  4,663.44 46.44 1.006% <BR>\n" );
document.write( "10  5,188.1 58.1 1.133% <BR>\n" );
document.write( "11  5,714.07 71.07 1.259% <BR>\n" );
document.write( "12 1 6,241.35 85.35 1.387% <BR>\n" );
document.write( "13  6,769.96 100.96 1.514% <BR>\n" );
document.write( "14  7,299.88 117.88 1.641% <BR>\n" );
document.write( "15  7,831.13 136.13 1.769% <BR>\n" );
document.write( "16  8,363.71 155.71 1.897% <BR>\n" );
document.write( "17  8,897.62 176.62 2.025% <BR>\n" );
document.write( "18  9,432.86 198.86 2.154% <BR>\n" );
document.write( "19  9,969.45 222.45 2.282% <BR>\n" );
document.write( "20  10,507.37 247.37 2.411% <BR>\n" );
document.write( "21  11,046.64 273.64 2.54% <BR>\n" );
document.write( "22  11,587.25 301.25 2.669% <BR>\n" );
document.write( "23  12,129.22 330.22 2.799% <BR>\n" );
document.write( "24 2 12,672.55 360.55 2.928% <BR>\n" );
document.write( "25  13,217.23 392.23 3.058% <BR>\n" );
document.write( "26  13,763.27 425.27 3.188% <BR>\n" );
document.write( "27  14,310.68 459.68 3.319% <BR>\n" );
document.write( "28  14,859.45 495.45 3.449% <BR>\n" );
document.write( "29  15,409.6 532.6 3.58% <BR>\n" );
document.write( "30  15,961.13 571.13 3.711% <BR>\n" );
document.write( "31  16,514.03 611.03 3.842% <BR>\n" );
document.write( "32  17,068.32 652.32 3.974% <BR>\n" );
document.write( "33  17,623.99 694.99 4.105% <BR>\n" );
document.write( "34  18,181.05 739.05 4.237% <BR>\n" );
document.write( "35  18,739.5 784.5 4.369% <BR>\n" );
document.write( "36 3 19,299.35 831.35 4.502% <BR>\n" );
document.write( "37  19,860.6 879.6 4.634% <BR>\n" );
document.write( "38  20,423.25 929.25 4.767% <BR>\n" );
document.write( "39  20,987.31 980.31 4.9% <BR>\n" );
document.write( "40  21,552.77 1,032.77 5.033% <BR>\n" );
document.write( "41  22,119.66 1,086.66 5.166% <BR>\n" );
document.write( "42  22,687.95 1,141.95 5.3% <BR>\n" );
document.write( "43  23,257.67 1,198.67 5.434% <BR>\n" );
document.write( "44  23,828.82 1,256.82 5.568% <BR>\n" );
document.write( "45  24,401.39 1,316.39 5.702% <BR>\n" );
document.write( "46  24,975.39 1,377.39 5.837% <BR>\n" );
document.write( "47  25,550.83 1,439.83 5.972% <BR>\n" );
document.write( "48 4 26,127.71 1,503.71 6.107% <BR>\n" );
document.write( "49  26,706.03 1,569.03 6.242% <BR>\n" );
document.write( "50  27,285.79 1,635.79 6.377% <BR>\n" );
document.write( "51  27,867.01 1,704.01 6.513% <BR>\n" );
document.write( "52  28,449.68 1,773.68 6.649% <BR>\n" );
document.write( "53  29,033.8 1,844.8 6.785% <BR>\n" );
document.write( "54  29,619.38 1,917.38 6.921% <BR>\n" );
document.write( "55  30,206.43 1,991.43 7.058% <BR>\n" );
document.write( "56  30,794.95 2,066.95 7.195% <BR>\n" );
document.write( "57  31,384.94 2,143.94 7.332% <BR>\n" );
document.write( "58  31,976.4 2,222.4 7.469% <BR>\n" );
document.write( "59  32,569.34 2,302.34 7.607% <BR>\n" );
document.write( "60 5 33,163.76 2,383.76 7.745% <BR>\n" );
document.write( "61  33,759.67 2,466.67 7.883% <BR>\n" );
document.write( "62  34,357.07 2,551.07 8.021% <BR>\n" );
document.write( "63  34,955.96 2,636.96 8.159% <BR>\n" );
document.write( "64  35,556.35 2,724.35 8.298% <BR>\n" );
document.write( "65  36,158.25 2,813.25 8.437% <BR>\n" );
document.write( "66  36,761.64 2,903.64 8.576% <BR>\n" );
document.write( "67  37,366.55 2,995.55 8.715% <BR>\n" );
document.write( "68  37,972.96 3,088.96 8.855% <BR>\n" );
document.write( "69  38,580.89 3,183.89 8.995% <BR>\n" );
document.write( "70  39,190.35 3,280.35 9.135% <BR>\n" );
document.write( "71  39,801.32 3,378.32 9.275% <BR>\n" );
document.write( "72 6 40,413.83 3,477.83 9.416 <BR>\n" );
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