document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1113170>Question 1113170</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Earl Ezekiel wants to retire in San Diego when he is 65 years old. Earl is now 50. He believes he will need $300,000 to retire comfortably. To date, Earl has set aside no retirement money. Assume Earl gets 6% interest compounded semiannually. How much must Earl invest today to meet his $300,000 goal? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #728267 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=728267\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> P=Po(1+.06/2)^30, the 30 being semiannual compoundings over 15 years.<BR>\n" );
document.write( "300000=Po(1.03)^30<BR>\n" );
document.write( "300000=Po*2.427.  Without rounding divide 300000 by 2.427.<BR>\n" );
document.write( "$123,596.03 </SPAN>\n" );
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