document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1084563>Question 1084563</A>: <I><SPAN STYLE=\"word-break: break-all;\"> The question is:<BR>\n" );
document.write( "Hannah invests $4500 in an investment with an APR of 5.2% compounded monthly. She also makes a monthly deposit of $200 per month into this same investment. What is the total amount of money in this investment after 3 years?\r<BR>\n" );
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document.write( "I tried the savings formula: 4500 * ((1+(.052/12)^(3*12)-1) / (.052/12)<BR>\n" );
document.write( "which didn't have anywhere to fit the $200 in, and also got me 0 as an answer. What formula should I use? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #698642 by </B><A HREF=/tutors/aboutme.mpl?userid=Fombitz><B>Fombitz(32388)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Fombitz><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=Fombitz><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=698642\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Use the future value of an annuity formula,<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=FV=P%28%28%281%2Br%29%5En-1%29%2Fr%29 ALIGN=MIDDLE  ALT=\"FV=P%28%28%281%2Br%29%5En-1%29%2Fr%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "where P is the monthly payment, r is the monthly rate, and n is the number of periods. <BR>\n" );
document.write( "In this case, <BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P=200 ALIGN=MIDDLE  ALT=\"P=200\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r=0.052%2F12 ALIGN=MIDDLE  ALT=\"r=0.052%2F12\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=n=3%2A12 ALIGN=MIDDLE  ALT=\"n=3%2A12\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "So the first and each monthly payment is $200. Since the real first payment is $4500, you also have to add $4300 compounded similarly for the same time period to the total you get to make up for this. </SPAN>\n" );
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