document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1139133>Question 1139133</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose Mary needs $32,000 in five years for a new car. If her account pays 3.75% interest compounded daily, how much must she deposit today to have the money for the car? What is the term used for this value?<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 #756906 by </B><A HREF=/tutors/aboutme.mpl?userid=rothauserc><B>rothauserc(4718)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=rothauserc><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=rothauserc><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=756906\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 32000 = P * (1 +(0.0375/365))^(5 * 365)<BR>\n" );
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document.write( "1.2062P = 32000<BR>\n" );
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document.write( "P = 26529.60<BR>\n" );
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document.write( "Mary needs to deposit $26,529.60<BR>\n" );
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document.write( "P is the principal investment amount(initial deposit)<BR>\n" );
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