document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1155439>Question 1155439</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Determine the principal P that must be invested at rate r = 9%, compounded monthly, so that $500,000 will be available for retirement in t = 6 years. (Round your answer to the nearest cent.)<BR>\n" );
document.write( "P = ? </SPAN>\n" );
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document.write( "The future value A is<br><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+P%281%2Br%29%5En ALIGN=MIDDLE  ALT=\"A+=+P%281%2Br%29%5En\"   DISABLED_style= \"max-width:90%; height:auto;\" ><br><BR>\n" );
document.write( "where r is the periodic interest rate and n is the number of periods.<br><BR>\n" );
document.write( "The annual interest rate is 9% or .09; the periodic (monthly) interest rate is .09/12 = .0075.<br><BR>\n" );
document.write( "The 6 years of monthly periods means 6*12=72 periods.<br><BR>\n" );
document.write( "You want $500,000 at the end of 6 years:<br><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=500000+=+P%281%2B.0075%29%5E72 ALIGN=MIDDLE  ALT=\"500000+=+P%281%2B.0075%29%5E72\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P+=+500000%2F%281%2B.0075%29%5E72 ALIGN=MIDDLE  ALT=\"P+=+500000%2F%281%2B.0075%29%5E72\"   DISABLED_style= \"max-width:90%; height:auto;\" ><br><BR>\n" );
document.write( "Use a calculator....<br><BR>\n" );
document.write( " </SPAN>\n" );
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