document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1080902>Question 1080902</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Roy Gross is considering an investment that pays 5.30 percent. How much will he have to invest today so that the investment will be worth $29,000 in six years? (If you solve this problem with algebra round intermediate calculations to 4 decimal places, in all cases round your final answer to the nearest penny.<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 #694984 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=694984\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> P=Po(1+.053)^6, which assumes annual compounding.<BR>\n" );
document.write( "29000=Po*1.3632 to 4 decimal places<BR>\n" );
document.write( "divide by 1.3632<BR>\n" );
document.write( "Po=$21,272.95 </SPAN>\n" );
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