document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1112939>Question 1112939</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Can someone tell me where l am going wrong cause l can not get the answer that correlates to the ones l am given.\r<BR>\n" );
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document.write( "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?<BR>\n" );
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\r<BR>\n" );
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document.write( "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\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #727981 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(52814)</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=727981\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .\r<BR>\n" );
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document.write( "You count 9*52 = 468 weeks in 9 years.\r<BR>\n" );
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document.write( "I count 469 weeks.\r<BR>\n" );
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document.write( "About such details, &nbsp;wise people say\r<BR>\n" );
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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( "    \"read attentively what is written by small font in the bank agreement. . .\"\r\n" );
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document.write( "Also, &nbsp;it is &nbsp;\"Annuity Due\" &nbsp;account, &nbsp;when the money are invested at the &nbsp;BEGINNING&nbsp; of each compound period - it has its own features\r<BR>\n" );
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document.write( "comparing with usual &nbsp;\"Ordinary annuity\" . . . \r<BR>\n" );
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document.write( "See my lesson\r<BR>\n" );
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document.write( "&nbsp;&nbsp;&nbsp;&nbsp;- <A  rel=nofollow HREF=http://www.algebra.com/algebra/homework/Sequences-and-series/Annuity-due-saving-plans-and-geometric-progressions.lesson>Annuity Due saving plans and geometric progressions</A>\r<BR>\n" );
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document.write( "in this site. &nbsp;You will see the additional factor  &nbsp;<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=%281%2B0.08%2F52%29 ALIGN=MIDDLE  ALT=\"%281%2B0.08%2F52%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >&nbsp; there, &nbsp;which makes the &nbsp;\"Annuity Due\"&nbsp; plan distinctive from the &nbsp;\"Ordinary annuity\"&nbsp; plan. \r<BR>\n" );
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document.write( "I am not a financial specialist and look in this problem as a Math person only.\r<BR>\n" );
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