document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1139562>Question 1139562</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Engr. Sajise wants to buy a condominium that costs 20Million. She wants to pay it at the rate of 4% compounded monthly. If she will pay 200k per payment. How much is the accumulated amount of the condominium? Payments are made at the beginning of the month. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #760058 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=760058\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> using the online financial calculator at <a  rel=nofollow HREF= \"https://arachnoid.com/finance/\" target = \"_blank\">arachnoid financial calculator</a>, i get the following.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2019/042211.jpg\" alt=\"$$$\" >\r<BR>\n" );
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document.write( "inputs to the calculator are:\r<BR>\n" );
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document.write( "present value = 20,000,000<BR>\n" );
document.write( "future value = 0<BR>\n" );
document.write( "payment at the beginning of each month is 200,000.<BR>\n" );
document.write( "this is shown as negative since it's money going out.<BR>\n" );
document.write( "interest rate = 4% per year / 12 = .333333333% per month.\r<BR>\n" );
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document.write( "i click on NP and the calculator tells me that the loan will be paid off in 121.34 months.\r<BR>\n" );
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document.write( "121.34 * 200,000 = total payments of 24,268,000.\r<BR>\n" );
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document.write( "total interest paid is 24,268,000 - 20,000,000 = 4,268,000.\r<BR>\n" );
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document.write( "accumulated mount of the condominium is the total payments made.<BR>\n" );
document.write( "24,268,000 should be your answer.\r<BR>\n" );
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document.write( "i used the more detailed Texas Business Analyst II calculator that doesn't round intermediate results and the solution there was shown as total payments of 24,268,679.54, based on a loan period of 121.3433977 months.\r<BR>\n" );
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document.write( "your solution for total payments should be either 24,268,000 or the more detailed 24,268,679.54. </SPAN>\n" );
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