document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1075862>Question 1075862</A>: <I><SPAN STYLE=\"word-break: break-all;\"> jack plans to deposit 100 at the end of every quarter for the next 10 years into an annuity that pays 6% what will be the value of jack's annuity at maturity </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #690512 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=690512\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Jack deposits 100 at the end of every quarter AND the annuity COMPOUNDS EVERY QUARTER. Based on these assumptions:<BR>\n" );
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document.write( "P = PMT(((1+r)^(n)-1)/r)<BR>\n" );
document.write( "P = 100(((1+(0.06/4))^(40)-1)/0.06/4)<BR>\n" );
document.write( "P = 100((1.015)^(40)-1)/0.015<BR>\n" );
document.write( "P = 100(1.8140-1)/0.015<BR>\n" );
document.write( "P = 100(54.2667) = 5,426.67 </SPAN>\n" );
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