document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1096880>Question 1096880</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Tuition of $1330 will be due when the spring term begins in 7 months. What amount should a student deposit today, at 3.96%, to have enough to pay the tuition?\r<BR>\n" );
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document.write( "Please answer with Full Details, including any calculator steps, etc.\r<BR>\n" );
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document.write( "Thank you very much. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #711305 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=711305\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Let n be the amount of the necessary deposit. Then:<BR>\n" );
document.write( "1330=n*(1+0.0396)^7/12=n*(1.0396)^0.583333<BR>\n" );
document.write( "ln 1330=ln n+ln(1.0396)^0.583333=ln n + 0.583333*ln(1.0396)<BR>\n" );
document.write( "ln n=7.17027988695310846127677907654<BR>\n" );
document.write( "e^ln n=n=e^7.17027988695310846127677907654<BR>\n" );
document.write( "e^7.17027988695310846127677907654=$1300.208 needs to be deposited to fully fund tuition when the spring term begins<BR>\n" );
document.write( "&#9786;&#9786;&#9786;&#9786; </SPAN>\n" );
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