document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1061862>Question 1061862</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You would like to have $550,000 when you retire in 35 years. How much should you invest each quarter if you can earn a rate of 4.8% compounded quarterly?\r<BR>\n" );
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document.write( "a) How much should you deposit each quarter?<BR>\n" );
document.write( "b) How much total money will you put into the account?<BR>\n" );
document.write( "c) How much total interest will you earn? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #676679 by </B><A HREF=/tutors/aboutme.mpl?userid=addingup><B>addingup(3677)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=addingup><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=addingup><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=676679\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Amount: 550,000 <BR>\n" );
document.write( "time: 35 years<BR>\n" );
document.write( "rate of 4.8% <BR>\n" );
document.write( "compounded: 4*year<BR>\n" );
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document.write( "a):<BR>\n" );
document.write( "550,000((0.048/4)/((1+(0.048/4))^(4*35)-1) = 1,530.55 per quarter is what you should invest.<BR>\n" );
document.write( "Do the operations, remember to follow PEMDAS (Parenthesis-Exponents-Multiplication and Division-Addition and Subtraction.<BR>\n" );
document.write( "b) and c) are easy with the information I gave you, you figure them out.<BR>\n" );
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document.write( "John </SPAN>\n" );
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