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 #698651 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=698651\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 4500* ((1+(.052/12)^(36)) + 200(1+.052)^36-1)/(0.052/12).  The 200 goes into a separate term.  Essentially, what you are doing is figuring the ongoing value of the original $4500 and then adding to it the amount you are contributing each month as well.  The 4500 is the compound interest formula, and that is just added to the periodic deposit formula.<BR>\n" );
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