document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1054848>Question 1054848</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 	<BR>\n" );
document.write( "You want to purchase a new car in 9<BR>\n" );
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document.write( "years and expect the car to cost &#8203;$81 comma 000<BR>\n" );
document.write( ". <BR>\n" );
document.write( "Your bank offers a plan with a guaranteed APR of 6.5 %<BR>\n" );
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document.write( "if you make regular monthly deposits. How much should you deposit each month to end up with &#8203;$81 comma 000<BR>\n" );
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document.write( "in 9<BR>\n" );
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document.write( "&#8203;years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #670137 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=670137\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The general formula is A (at end)=d (deposit)(1+(r/n)^nt-1)/(r/n); where r is the rate, n the number of compoundings per year and nt is the total number of compoundings.<BR>\n" );
document.write( "A=d [{1+(.065)/12))^108-1)]/(.065/12)<BR>\n" );
document.write( "A=d[(1.792)-1]/(.065/12)=81,000, but don't round yet<BR>\n" );
document.write( "multiply through by (0.065/12) without rounding<BR>\n" );
document.write( "438.75=d(1.792-1);<BR>\n" );
document.write( "d=$553.87 </SPAN>\n" );
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