document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1112473>Question 1112473</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 1.) A savings account in which people make regular payment amounts to save toward future goals like college or retirement is called an annuity. In the formula below, P is the regular payment amount, n is the number of times that interest is compounded per year (which is also the number of payments made per year), r is the annual interest rate, A is the future value of the annuity, and t is the number of years:\r<BR>\n" );
document.write( "\n" );
document.write( "A(t)=P[1+r/n)^nt - 1]/r/n\r<BR>\n" );
document.write( "\n" );
document.write( "Megan opens a savings account to pay for her new baby's college education. She deposits $200 every month into the account at an annual interest rate of 4.2% compounded monthly.\r<BR>\n" );
document.write( "\n" );
document.write( "a.) Find A(t), the value of Megan's account after t years.\r<BR>\n" );
document.write( "\n" );
document.write( "b.) What is the value of Megan's account after 8 years?\r<BR>\n" );
document.write( "\n" );
document.write( "c.) What is the rate of change in the value of Megan's account after 8 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #727513 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(52793)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ikleyn><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=ikleyn><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=727513\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .<BR>\n" );
document.write( "<PRE STYLE=\"white-space: pre-wrap; white-space: -moz-pre-wrap; white-space: -pre-wrap; white-space: -o-pre-wrap; word-wrap: break-word;\">\r\n" );
document.write( "After getting all these detailed explanations and instructions, all you need to do is to substitute the values into the formula\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "a)  A(t) = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=200%2A+%28%281%2B0.042%2F12%29%5E%2812%2At%29-1%29+%2F+%280.042%2F12%29 ALIGN=MIDDLE  ALT=\"200%2A+%28%281%2B0.042%2F12%29%5E%2812%2At%29-1%29+%2F+%280.042%2F12%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r\n" );
document.write( "\r\n" );
document.write( "\r\n" );
document.write( "b)  and then use your calculator and calculate the value A(8)\r\n" );
document.write( "</PRE>\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Is still something what you do not understand ?\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "This assignment is not about thinking.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "It is about taking your calculator and pressing buttons, without asking questions.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );