document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1118400>Question 1118400</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Is it now the beginning of the year (year 0). Assume that, starting at the end of the year 4 (NOT next year), you will make deposits of $193 each year into a savings account. You will make a total of 5 annual deposits. If the savings account interest rate is 11%, what is the present value of this savings plan? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #733717 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=733717\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> \r<BR>\n" );
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document.write( "you will make a total of 5 deposits of 193 at the end of each year starting at the end of year 4.\r<BR>\n" );
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document.write( "the savings account interest rate is 11% per year.\r<BR>\n" );
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document.write( "the present value of the money invested at the end of year 4 is equal to 193 / 1.11^4.\r<BR>\n" );
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document.write( "the present value of the money invested at the end of year 5 is equal to 193 / 1.11^5.\r<BR>\n" );
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document.write( "the present value of the money invested at the end of year 6 is equal to 193 / 1.11^6.\r<BR>\n" );
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document.write( "the present value of the money invested at the end of year 7 is equal to 193 / 1.11^7.\r<BR>\n" );
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document.write( "the present value of the money invested at the end of year 8 is equal to 193 / 1.11^8.\r<BR>\n" );
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document.write( "add them up and you get a present value of $521.56.\r<BR>\n" );
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document.write( "i did this in excel.\r<BR>\n" );
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document.write( "here's the results.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2018/061001.jpg\" alt=\"$$$\" > </SPAN>\n" );
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