document.write( "Question 1173006: Jamie wants to have P45,000 in 2 years to buy a new computer, how much money should he invest today in a fund that invests 5% compounded quarterly to get this amount after 2 years? \n" ); document.write( "

Algebra.Com's Answer #798161 by ikleyn(52781) $\"\"$ $\"About$

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\n" ); document.write( "Jamie wants to have P45,000 in 2 years to buy a new computer, how much money should he invest today
\n" ); document.write( "in a fund that $\"highlight%28cross%28invests%29%29\"$ EARNS 5% compounded quarterly to get this amount after 2 years?
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\n" ); document.write( "\n" ); document.write( " Please pay attention on how I edited your post in order for IT would MAKE SENSE.\r
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\n" ); document.write( "\n" ); document.write( " Also LEARN how to use the terms CORRECTLY in the area you write about . . . \r
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document.write( "Your starting equation is THIS\r\n" );
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document.write( "    45000 =      (1)\r\n" );
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document.write( "This equation has this form BECAUSE it is the formula for the future value of the quaterly compounded account.\r\n" );
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document.write( "You need to find the value of X, which is the today's amount to deposit in the fund.\r\n" );
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document.write( "To solve the equation, calculate this factor\r\n" );
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document.write( "     =  = use your calculator = 1.1045.\r\n" );
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document.write( "After that, from equation (1)\r\n" );
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document.write( "    X =  = 40742.42  dollars.\r\n" );
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document.write( "ANSWER.  Jamie should invest  $40742.42  today.\r\n" );
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document.write( "CHECK.    = 44999.44  dollars.     Close enough.\r\n" );
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\n" ); document.write( "\n" ); document.write( "To see other similar solved problems, look into the lesson\r
\n" ); document.write( "\n" ); document.write( " - Problems on discretely compound accounts \r
\n" ); document.write( "\n" ); document.write( "in this site, and learn the subject from there.\r
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\n" ); document.write( "\n" ); document.write( "After reading this lesson, you will tackle such problems on your own without asking for help from outside.\r
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\n" ); document.write( "\n" ); document.write( "Also, you have this free of charge online textbook in ALGEBRA-I in this site\r
\n" ); document.write( "\n" ); document.write( " - ALGEBRA-I - YOUR ONLINE TEXTBOOK.\r
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\n" ); document.write( "\n" ); document.write( "The referred lesson is the part of this online textbook under the topic \"Logarithms\".\r
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\n" ); document.write( "\n" ); document.write( "Save the link to this online textbook together with its description\r
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\n" ); document.write( "\n" ); document.write( "Free of charge online textbook in ALGEBRA-I
\n" ); document.write( "https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson\r
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\n" ); document.write( "\n" ); document.write( "to your archive and use it when it is needed.\r
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\n" ); document.write( "\n" ); document.write( "Happy learning (!)\r
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