document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1133531>Question 1133531</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Jennifer is the owner of a video game and entertainment software retail store. She is currently planning to retire in 30 years and wishes to withdraw $10,000/month for 20 years from her retirement account starting at that time. How much must she contribute each month for 30 years earning interest at a rate of 5% compounded monthly to meet her goal?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #750785 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=750785\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Amount to contribute is A=m(1+(r/n))^360-1/(r/n)<BR>\n" );
document.write( "Amount to withdraw requires m(1-(1+(r/n)^-(nt)/(r/n)<BR>\n" );
document.write( "m is the amount withdrawn each month, so 10000(1-(1+.05/12)^(-240))/(.05/12)<BR>\n" );
document.write( "=$1515253.13, rounding at the end.  \r<BR>\n" );
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document.write( "This is equal to m[(1+(r/n)^360)-1]/(r/n)<BR>\n" );
document.write( "$1820.65 ANSWER </SPAN>\n" );
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