document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1173158>Question 1173158</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A person wants to deposit $10,000 per year for 6 years. If interest is earned at the rate of 10 percent per year, compute the amount to which the deposits will grow by the end of the 6 years if: <BR>\n" );
document.write( "(a) Deposits of $10,000 are made at the end of each year with interest compounded annually.<BR>\n" );
document.write( "(b) Deposits of $5,000 are made at the end of each 6-month period with interest compounded semiannually. <BR>\n" );
document.write( "(c) Deposits of $2,500 are made at the end of every quarter with interest compounded <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 #798348 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=798348\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> a financial calculator will help find the solution for these problems.<BR>\n" );
document.write( "the online calculator that i used is at <a  rel=nofollow HREF= \"https://arachnoid.com/finance/index.html\" target = \"_blank\">https://arachnoid.com/finance/index.html</a>\r<BR>\n" );
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document.write( "pv = present value<BR>\n" );
document.write( "fv = future value<BR>\n" );
document.write( "np = number of time periods.<BR>\n" );
document.write( "pmt = payment amount in each time period.<BR>\n" );
document.write( "ir = interest rate % per time period.<BR>\n" );
document.write( "payment amount is at (beginning / end) of each time period.\r<BR>\n" );
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document.write( "problem 1:\r<BR>\n" );
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document.write( "pv = 0<BR>\n" );
document.write( "np = 6 years<BR>\n" );
document.write( "pmt = -10,000<BR>\n" );
document.write( "ir = 10% per year.<BR>\n" );
document.write( "click on fv to get:<BR>\n" );
document.write( "fv = 77,156.10<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2021/011606.jpg\" >\r<BR>\n" );
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document.write( "problem 2:\r<BR>\n" );
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document.write( "pv = 0<BR>\n" );
document.write( "np 6 years * 2 semi-annual time periods per year = 12 semi-annual time periods.<BR>\n" );
document.write( "pmt = -5,000<BR>\n" );
document.write( "ir = 10% per year / 2 = 5% per semi-annual time period.<BR>\n" );
document.write( "click on fv to get:<BR>\n" );
document.write( "fv = 79,585.63<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2021/011607.jpg\" >\r<BR>\n" );
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document.write( "problem 3:\r<BR>\n" );
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document.write( "pv = 0<BR>\n" );
document.write( "np = 6 years * 4 quarters per year = 24 quarters.<BR>\n" );
document.write( "pmt = -2,500<BR>\n" );
document.write( "ir = 10% per year / 4 = 2.5% per quarter.<BR>\n" );
document.write( "click on fv to get:<BR>\n" );
document.write( "fv =80,872.59<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2021/011608.jpg\" >\r<BR>\n" );
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document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );