document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1076661>Question 1076661</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Sarah want to save an amount of R100000 in two years time for deposit on townhouse.she wants to make weekly payments into an account that offers an 8% yearly interest rate, compounded weekly.determine the size of her weekly payments. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #691334 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=691334\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> If Sarah is saving each week for 2 years,compounded weekly, then she makes a total of 104 payments, at .08/52, or 0.15385% interest each week. So:<BR>\n" );
document.write( "100000=P[(1+.0015385)^104-1]/.0015385<BR>\n" );
document.write( "153.85=P(0.17337128198498002006399816563696)<BR>\n" );
document.write( "P=R 887.41 as the necessary amount of Sarah's weekly payment, in order to have an account balance of R100000 at the end of 2 years. &#9786;&#9786;&#9786;&#9786; </SPAN>\n" );
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