document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1122961>Question 1122961</A>: <I><SPAN STYLE=\"word-break: break-all;\">  When Dennis turns 18, his parents will give him money tgat they invested for him when he was born.  They invested the money in a savings account that had a  interest rate of 7.2% compounded monthly.  If they will give him$91001.31, how much did they initially invest? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #739161 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=739161\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> i used the following financial calculator.\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( "the calculator tells me that the money invested was $24,996.77.\r<BR>\n" );
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document.write( "i provided the calculator with the following inputs.\r<BR>\n" );
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document.write( "present value = 0<BR>\n" );
document.write( "future value = 91001.31<BR>\n" );
document.write( "number of time periods = 18 * 12 = 216 months<BR>\n" );
document.write( "payment each time period = 0<BR>\n" );
document.write( "interest rate % per time period = 7.2/12 = .6% each month.<BR>\n" );
document.write( "payment each time period is made at the end of each time period (not required since there was no payment made om each time period).\r<BR>\n" );
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document.write( "i also use the texas instruments BA-II financnial calculator and it told me the same thing.\r<BR>\n" );
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document.write( "it looks very much like the initial investment was $25,000, but that would have led to a future value of 91,013.09, a very slight difference than the amount you showed.\r<BR>\n" );
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document.write( "here's what the online calculator showed me.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2018/091101.jpg\" alt=\"$$$\" >\r<BR>\n" );
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document.write( "if you need formulas, they can be found here:\r<BR>\n" );
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document.write( "<a  rel=nofollow HREF= \"https://www.algebra.com/algebra/homework/Finance/THEO-2016-04-29.lesson#notes\" target = \"_blank\">https://www.algebra.com/algebra/homework/Finance/THEO-2016-04-29.lesson#notes</a>\r<BR>\n" );
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document.write( "i'll be available to answer any questions you might have regarding this.\r<BR>\n" );
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document.write( "when you use the calculator, you enter any money that is going out as negative and any money that is coming in as positive.\r<BR>\n" );
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document.write( "i entered positive future value and the calculator gave me negative present value.\r<BR>\n" );
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document.write( "the present value was money going out and the future value was money coming in.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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