document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1131198>Question 1131198</A>: <I><SPAN STYLE=\"word-break: break-all;\"> please help me find this answer for this question\r<BR>\n" );
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document.write( "How much should you invest each month in order to have $500,000 if your rate of return is 6.4% compounded monthly and you want to achieve your goal in 40 years?\r<BR>\n" );
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document.write( "How much interest will you earn?\r<BR>\n" );
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document.write( "How much should you invest each month in order to have $500,000 if you want to achieve your goal in 20 years?\r<BR>\n" );
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document.write( "If you deposit the amount you need to achieve your goal in 20 years, how much will your savings be worth after 10 years?\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 #747920 by </B><A HREF=/tutors/aboutme.mpl?userid=MathTherapy><B>MathTherapy(10552)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=MathTherapy><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=MathTherapy><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=747920\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> please help me find this answer for this question\r<BR>\n" );
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document.write( "How much should you invest each month in order to have $500,000 if your rate of return is 6.4% compounded monthly and you want to achieve your goal in 40 years?\r<BR>\n" );
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document.write( "$\r<BR>\n" );
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document.write( "How much interest will you earn?\r<BR>\n" );
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document.write( "$\r<BR>\n" );
document.write( "\n" );
document.write( "How much should you invest each month in order to have $500,000 if you want to achieve your goal in 20 years?\r<BR>\n" );
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document.write( "$\r<BR>\n" );
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document.write( "If you deposit the amount you need to achieve your goal in 20 years, how much will your savings be worth after 10 years?\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;\"><b>a)</b>  Amount to invest each month in order to have $500,000, with ROR being 6.4%, compounded monthly, at the END of 40 years: <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=highlight_green%28%22%24225.07%22%29 ALIGN=MIDDLE  ALT=\"highlight_green%28%22%24225.07%22%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<b>b)</b>  Earned interest: Difference between amount invested over the 40-year period and the $500,000-goal: <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=highlight_green%28%22%24391%2C965.98%22%29 ALIGN=MIDDLE  ALT=\"highlight_green%28%22%24391%2C965.98%22%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<b>c)</b>  Amount to invest each month in order to have $500,000, with ROR being 6.4%, compounded monthly, at the END of 20 years: <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=highlight_green%28%22%241%2C031.82%22%29 ALIGN=MIDDLE  ALT=\"highlight_green%28%22%241%2C031.82%22%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<b>d)</b>  If you deposit the amount you need to achieve your goal in 20 years, how much will your savings be worth after 10 years?<BR>\n" );
document.write( "    The above is confusing! Are you talking about the SINGLE total amount invested over the 20-year period ($247,637.05) being invested for 10 years,<BR>\n" );
document.write( "    or the monthly amount of $1,031.82 being invested over a 10-year period?<BR>\n" );
document.write( "    If the former, then in 10 years the SINGLE total amount of $247,637.05 will accumulate to $468,840.94 over a 10-year period, with ROR of 6.4%, and monthly compounding. </SPAN>\n" );
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