document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1131685>Question 1131685</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Mr. Nakamura wants to make monthly deposits into an annuity for his grandchild so that $10,000 will be available in 7 years. If the interest rate is 7% compounded monthly, find the monthly deposit. (Round your final answer to two decimal places.)  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #748832 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=748832\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> FV(r/n)=payment*(1+(r/n)^84-1, the 84 number of compoundings<BR>\n" );
document.write( "round at end<BR>\n" );
document.write( "10000(.07/12)=p*(1+(.07/12))^84-1<BR>\n" );
document.write( "p=$92.59 </SPAN>\n" );
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