document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1110732>Question 1110732</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Your parents started depositing $90 each month, from the day of your birth (first deposit made when you were born). How much money do you have at age 18 with monthly compounding at a rate of 10%? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #725834 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=725834\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Your parents started depositing $90 each month, from the day of your birth (first deposit made when you were born). How much money do you have at age 18 with monthly compounding at a rate of 10%? <BR>\n" );
document.write( "-----<BR>\n" );
document.write( "FV = d((((1+i)^t-1)/i)*(1+i)<BR>\n" );
document.write( "------<BR>\n" );
document.write( "FV = 90(((1+0.1/12)^(12*18)-1)(1+(0.1/12)<BR>\n" );
document.write( "------<BR>\n" );
document.write( "FV = 90(6.005-1)(1.00833)<BR>\n" );
document.write( "FV = 454.20<BR>\n" );
document.write( "--------------<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "-------------- </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );