document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1065747>Question 1065747</A>: <I><SPAN STYLE=\"word-break: break-all;\"> tony is saving up to go travelling after graduation.  How much will he have if he can put $75 at the end of every month, for the full four years he is in school, into his savings account which earns 1.8% interest, compounded monthly?<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #680918 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=680918\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A=75{1+(.018/12))^48-1}/(.018/12)<BR>\n" );
document.write( "=$3729.87<BR>\n" );
document.write( "The basic set up is the amount put in multiplied by<BR>\n" );
document.write( "1+ interest rate/number of compundings per year) all raised to the number of compoundings per year*years.<BR>\n" );
document.write( "Then subtract 1 and multiply by the amount put in each period (here $75).<BR>\n" );
document.write( "Divide by interest rate/compoundings, the same number that was added to 1 at the beginning.<BR>\n" );
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