document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1114677>Question 1114677</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?<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 #729587 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=729587\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 29 - 20 = 9 years.<BR>\n" );
document.write( "multiply that by 52 and it's 468 weeks.<BR>\n" );
document.write( "annual interest is 8%.<BR>\n" );
document.write( "divide that by 52 and it's .153846154% per week.<BR>\n" );
document.write( "payments are 500 at the end of each week.<BR>\n" );
document.write( "use a financial calculator to find the future value of the investment.\r<BR>\n" );
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document.write( "present value = 0<BR>\n" );
document.write( "future value = 0<BR>\n" );
document.write( "payments at the end of each week are 500<BR>\n" );
document.write( "interest rate per week is .153846154%.\r<BR>\n" );
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document.write( "calculate future value to be 342,321.48.\r<BR>\n" );
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document.write( "here's an online calculator that you can use.\r<BR>\n" );
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document.write( "<a  rel=nofollow HREF= \"https://arachnoid.com/finance/\" target = \"_blank\">https://arachnoid.com/finance/</a>\r<BR>\n" );
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document.write( "here are the results of my use of this calculator.\r<BR>\n" );
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