document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1073376>Question 1073376</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How much money would you need to invest now (lump sum) at an interest rate of 3.4%, compounded quarterly, so that in 5 years you will have $5,000 to use for a down payment on a vehicle?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #688241 by </B><A HREF=/tutors/aboutme.mpl?userid=jorel1380><B>jorel1380(3719)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jorel1380><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=jorel1380><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=688241\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Let n be the amount to be invested. Then:<BR>\n" );
document.write( "n(1+(.034/4))^20=5000<BR>\n" );
document.write( "n=5000/(1+(.034/4))^20<BR>\n" );
document.write( "n=$4221.35574985 to be invested now to have $5000 at the end of 5 years. &#9786;&#9786;&#9786;&#9786;<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );