document.write( "Question 1139406: This does not have anything to do with algebra but it is driving me nuts trying to figure out the solution. I even used a TVM calculator and still got it wrong. \r
\n" ); document.write( "\n" ); document.write( "You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a retirement income of $4400 per month. You have access to an account that pays an APR of 7.2% compounded monthly.\r
\n" ); document.write( "\n" ); document.write( "What size nest egg do you need to achieve the desired monthly yield?
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Algebra.Com's Answer #759923 by ikleyn(52909)\"\" \"About 
You can put this solution on YOUR website!
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\n" ); document.write( "\n" ); document.write( "You make a  BIG  MISTAKE  by stating and thinking that  \"This does not have anything to do with algebra\".\r
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\n" ); document.write( "\n" ); document.write( "Actually  (and on the contrary),  the solution of this problem is  ENTIRELY  based on  Algebra,\r
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\n" ); document.write( "\n" ); document.write( "and all computer/calculator programs,  codes and applications to solve such problems are  ENTIRELY  based on Algebra.\r
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\n" ); document.write( "\n" ); document.write( "See the lessons\r
\n" ); document.write( "\n" ); document.write( "    - Ordinary Annuity saving plans and geometric progressions\r
\n" ); document.write( "\n" ); document.write( "    - Annuity Due saving plans and geometric progressions\r
\n" ); document.write( "\n" ); document.write( "    - Solved problems on Ordinary Annuity saving plans \r
\n" ); document.write( "\n" ); document.write( "    - Withdrawing a certain amount of money periodically from a compounded saving account\r
\n" ); document.write( "\n" ); document.write( "    - Miscellaneous problems on retirement plans \r
\n" ); document.write( "\n" ); document.write( "in this site.\r
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