document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1111453>Question 1111453</A>: <I><SPAN STYLE=\"word-break: break-all;\"> John wants to start saving for an apartment. On his 20th birthday, he starts depositing R500 per week into<BR>\n" );
document.write( "a bank account with an annual interest rate of 8%, compounded weekly. He will continue to make these<BR>\n" );
document.write( "weekly payments until the day of his 29th birthday. How much money will he have saved by then to finance<BR>\n" );
document.write( "the purchase of an apartment?\r<BR>\n" );
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document.write( "[1] R397 856,29<BR>\n" );
document.write( "[2] R166 717,97<BR>\n" );
document.write( "[3] R78 714,77<BR>\n" );
document.write( "[4] R342 321,48 </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #726455 by </B><A HREF=/tutors/aboutme.mpl?userid=addingup><B>addingup(3677)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=addingup><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=addingup><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=726455\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A = 500 x [(1+(0.08/52)^(52 x 9)) - 1]/(0.08/52)<BR>\n" );
document.write( "= 500 x  [(1.0015^468) – 1]/0.00153<BR>\n" );
document.write( "= 500 x 1.0167/0.00153<BR>\n" );
document.write( "= 500 x 664.51<BR>\n" );
document.write( "= 332,255<BR>\n" );
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