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 #748833 by </B><A HREF=/tutors/aboutme.mpl?userid=greenestamps><B>greenestamps(13203)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=greenestamps><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=greenestamps><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=748833\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <br><BR>\n" );
document.write( "Use the standard formula for an annuity, with contributions of x monthly for 7 years (84 total contributions), with an annual interest rate of 7% compounded monthly, with a future value of $10,000...<br><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=10000+=+x%28%28%281%2B.07%2F12%29%5E84-1%29%2F%28.07%2F12%29%29 ALIGN=MIDDLE  ALT=\"10000+=+x%28%28%281%2B.07%2F12%29%5E84-1%29%2F%28.07%2F12%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><br><BR>\n" );
document.write( "Evaluate the expression in parentheses, then divided 10000 by the result to find the monthly contribution x.<br><BR>\n" );
document.write( "I recommend evaluating the expression one small step at a time; if you try to enter it in your calculator all at once, it is far too easy to get parentheses in the wrong places, giving ridiculous answers.<br><BR>\n" );
document.write( "(answer: $92.59) </SPAN>\n" );
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