document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1148462>Question 1148462</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Mr. Nakamura wants to make monthly deposits into an annuity for his grandchild so that $10,000 will be available in 6 years. If the interest rate is 9% compounded monthly, find the monthly deposit. (Round your final answer to two decimal places.) <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 #769845 by </B><A HREF=/tutors/aboutme.mpl?userid=MathTherapy><B>MathTherapy(10552)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=MathTherapy><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=MathTherapy><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=769845\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Mr. Nakamura wants to make monthly deposits into an annuity for his grandchild so that $10,000 will be available in 6 years. If the interest rate is 9% compounded monthly, find the monthly deposit. (Round your final answer to two decimal places.)<BR>\n" );
document.write( "<PRE STYLE=\"white-space: pre-wrap; white-space: -moz-pre-wrap; white-space: -pre-wrap; white-space: -o-pre-wrap; word-wrap: break-word;\"><s>IKLEYN made a mistake.<BR>\n" );
document.write( "A monthly payment of $51.68 would be enough for TEN (10) years, which is what she calculated.</s><BR>\n" );
document.write( "However, a monthly payment of $105.26 would be enough for SIX (6) years, which is what is needed. </SPAN>\n" );
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