document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1060945>Question 1060945</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find the present value. Round to the nearest cent.  To get $10,000 after 2 years at 18% compounded monthly\r<BR>\n" );
document.write( "\n" );
document.write( "    a. $5000.00<BR>\n" );
document.write( "    b. $6995.44<BR>\n" );
document.write( "    c. $8363.87<BR>\n" );
document.write( "    d. $11,956.18<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 #675841 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=675841\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 10,000=A(1+(.18/12)^24, the 24 coming from 12 compoundings a year for 2 years<BR>\n" );
document.write( "The parentheses is 1.015<BR>\n" );
document.write( "raise that to the 24th power<BR>\n" );
document.write( "1.43. Don't round yet<BR>\n" );
document.write( "Now divide 10,000 on the left by that 1.43xxxx and A will be the result.<BR>\n" );
document.write( "It is $6995.44. <BR>\n" );
document.write( "b. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );