document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1055062>Question 1055062</A>: <I><SPAN STYLE=\"word-break: break-all;\"> how much would you need to deposit in an account now in order to have $6000 in <BR>\n" );
document.write( "the account in 15 years?  Assume the account earns 8% simple interest.  Round <BR>\n" );
document.write( "your answer to the nearest cent </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #670275 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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=670275\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> how much would you need to deposit in an account now in order to have $6000 in <BR>\n" );
document.write( "the account in 15 years? Assume the account earns 8% simple interest. Round <BR>\n" );
document.write( "your answer to the nearest cent <BR>\n" );
document.write( "---------------------<BR>\n" );
document.write( "A(t) = P(1+r*t)<BR>\n" );
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document.write( "6000 = P(1+0.08*15)<BR>\n" );
document.write( "------<BR>\n" );
document.write( "6000 = P(1+1.20)<BR>\n" );
document.write( "-----<BR>\n" );
document.write( "P = 6000/(2.2)<BR>\n" );
document.write( "Principal = $2727.27<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "------------<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );