document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1061918>Question 1061918</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How much should you invest each month in order to have $800,000 if your rate of return is 5.3% compounded monthly and you want to achieve your goal in 40 years?\r<BR>\n" );
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document.write( "How much interest will you earn?\r<BR>\n" );
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document.write( "How much should you invest each month in order to have $800,000 if you want to achieve your goal in 20 years?\r<BR>\n" );
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document.write( "If you deposit the amount you need to achieve your goal in 20 years, how much will your savings be worth after 10 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #676681 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=676681\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 800,000<BR>\n" );
document.write( "5.3% compounded monthly<BR>\n" );
document.write( "time: 40 years<BR>\n" );
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document.write( "800,000((0.053/12)/(((1+(0.053/12))^(12*40)-1) = 484.53 is how much you should invest every month<BR>\n" );
document.write( "With this information you can answer the other two questions yourself.<BR>\n" );
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document.write( "John\r<BR>\n" );
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