document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1135512>Question 1135512</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose you invest $140 at the end of each month for 5 years into an account earning 9% annual interest compounded monthly. After 5 years, you leave the money, without making additional deposits, in the account for another 28 years. How much will you have in the end?\r<BR>\n" );
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document.write( "Does anyone know how to solve this problem? I struggled all night to figure this out, and I still get it wrong. Thanks a bunch.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #753130 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=753130\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> if you use the following financial calculator, you will get the following results.\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( "after 5 years, you will have $10,559.38.\r<BR>\n" );
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document.write( "28 years after that, you will have $130,010.02.\r<BR>\n" );
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document.write( "i also used the TI-BA-II Business Analyst calculator and got $130,010.01 without rounding the intermediate number of $10,559.38.\r<BR>\n" );
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document.write( "using the BA-II, that future value came out as 10,559.37917.\r<BR>\n" );
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document.write( "the online financial calculator rounded that to 10,559.38.\r<BR>\n" );
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document.write( "consequently, your answer could be 130,010.02 or it could be 130,010.02.\r<BR>\n" );
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document.write( "try those out and see how your do.\r<BR>\n" );
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document.write( "there are also manual formula that you can use, but i wouldn't bother with those unless you are absolutely required to use them.\r<BR>\n" );
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document.write( "most of the ones that apply are in the following reference.\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( "the first of these formulas you would use is:\r<BR>\n" );
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document.write( "FUTURE VALUE OF AN ANNUITY WITH END OF TIME PERIOD PAYMENTS \r<BR>\n" );
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document.write( "f = (a*((1+r)^n-1))/r \r<BR>\n" );
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document.write( "f is the future value of the annuity.<BR>\n" );
document.write( "a is the annuity.<BR>\n" );
document.write( "r is the interest rate per time period.<BR>\n" );
document.write( "n is the number of time periods \r<BR>\n" );
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document.write( "a is equal to 140.<BR>\n" );
document.write( "r is equal to 9/12 = .75 / 100 = .0075<BR>\n" );
document.write( "n is equal to 5 * 12 = 60<BR>\n" );
document.write( "solve for f to get f = 10559.37917\r<BR>\n" );
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document.write( "you would then take the future value result from formula and make it the present value of the following formula.\r<BR>\n" );
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document.write( "FUTURE VALUE OF A PRESENT AMOUNT \r<BR>\n" );
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document.write( "f = p*(1+r)^n \r<BR>\n" );
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document.write( "f is the future value.<BR>\n" );
document.write( "p is the present amount.<BR>\n" );
document.write( "r is the interest rate per time period.<BR>\n" );
document.write( "n is the number of time period. \r<BR>\n" );
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document.write( "p is equal to 10559.37917<BR>\n" );
document.write( "r is equal to .0075<BR>\n" );
document.write( "n is equal to 28 * 12 = 336<BR>\n" );
document.write( "solve for f to get f = 130010.0131\r<BR>\n" );
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document.write( "i also confirmed through excel that these figures are accurate.\r<BR>\n" );
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document.write( "here's the results of the excel analysis.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2019/022501.jpg\" alt=\"$$$\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2019/022502.jpg\" alt=\"$$$\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2019/022503.jpg\" alt=\"$$$\" >\r<BR>\n" );
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document.write( "here's the results of the online calculator analysis.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2019/022504.jpg\" alt=\"$$$\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2019/022505.jpg\" alt=\"$$$\" >\r<BR>\n" );
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