document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1068055>Question 1068055</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Hi: \r<BR>\n" );
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document.write( "I'm stuck on a trying to remember the formula for the following question and was hoping you could help. If it matters, it's listed under the topic of \"college fund.\" The question reads - How much mush you deposit today into the following account in order to have a $120,000 college fund in 15 yrs? Assume no additional deposits are made.  This has an APR of 4% compounded daily. I have:\r<BR>\n" );
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document.write( "A = $120,000<BR>\n" );
document.write( "Y = 15<BR>\n" );
document.write( "APR = .04<BR>\n" );
document.write( "n = 365\r<BR>\n" );
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document.write( "Thank you. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #683227 by </B><A HREF=/tutors/aboutme.mpl?userid=MathTherapy><B>MathTherapy(10552)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=MathTherapy><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=MathTherapy><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=683227\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <BR>\n" );
document.write( "Hi: \r<BR>\n" );
document.write( "\n" );
document.write( "I'm stuck on a trying to remember the formula for the following question and was hoping you could help. If it matters, it's listed under the topic of \"college fund.\" The question reads - How much mush you deposit today into the following account in order to have a $120,000 college fund in 15 yrs? Assume no additional deposits are made.  This has an APR of 4% compounded daily. I have:\r<BR>\n" );
document.write( "\n" );
document.write( "A = $120,000<BR>\n" );
document.write( "Y = 15<BR>\n" );
document.write( "APR = .04<BR>\n" );
document.write( "n = 365\r<BR>\n" );
document.write( "\n" );
document.write( "Thank you.<BR>\n" );
document.write( "<PRE STYLE=\"white-space: pre-wrap; white-space: -moz-pre-wrap; white-space: -pre-wrap; white-space: -o-pre-wrap; word-wrap: break-word;\">When doing these types of calculations that involve DAILY COMPOUNDING, the number of ANNUAL COMPOUNDING PERIODS is 360, not 365. <BR>\n" );
document.write( "As such the present value or amount you need to deposit today is: <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=highlight_green%28%22%2465%2C859.59%22%29 ALIGN=MIDDLE  ALT=\"highlight_green%28%22%2465%2C859.59%22%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > </SPAN>\n" );
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