document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1061983>Question 1061983</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You would like to have $750,000 when you retire in 25 years. How much should you invest each quarter if you can earn a rate of 4.2% 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 #676746 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=676746\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> You would like to have $750,000 when you retire in 25 years. How much should you invest each quarter if you can earn a rate of 4.2% compounded quarterly?<BR>\n" );
document.write( "future value = (payment)[((1+i)^n-1)/i]<BR>\n" );
document.write( "750000 = P[(1.042^(4*25)-1)/0.042]<BR>\n" );
document.write( "750000 = P[1433.4]<BR>\n" );
document.write( "payment = $523.23<BR>\n" );
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document.write( "a) How much should you deposit each quarter?:: 523.2307<BR>\n" );
document.write( "b) How much total money will you put into the account?:: $52,323.07<BR>\n" );
document.write( "c) How much total interest will you earn?:: 750,000-52323 = 697,676.93<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "--------------- </SPAN>\n" );
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