document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1060263>Question 1060263</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Henry deposits $300 each month into an account paying annual interest of 8% compounded monthly. How much will his account have in it at the end of 16 years?<BR>\n" );
document.write( "A. $116,162.74<BR>\n" );
document.write( "B. $110,765.08<BR>\n" );
document.write( "C. $51,073.38<BR>\n" );
document.write( "D. $91,074.59 </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #677721 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=677721\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> If the additional deposits are made at the END of the moth:<BR>\n" );
document.write( "PMT*(((1+r/n)^nt-1)/(r/n))<BR>\n" );
document.write( ":<BR>\n" );
document.write( "If the additional deposits are made at the BEGINNING of the month:<BR>\n" );
document.write( "PMT*(((1+r/n)^nt-1)/((r/n)*(1+r/n)))<BR>\n" );
document.write( ":<BR>\n" );
document.write( "Plug in your numbers and solve. For solving, remember PEMDAS (Parentheses, Exponents, Multiplication and Division, and Addition and Subtraction) </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );