document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1175592>Question 1175592</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find the monthly payment that will yield the given future value. (Round your answer to the nearest cent.)\r<BR>\n" );
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document.write( "$240,000 at 10 1/2% interest for thirty-nine years; ordinary annuity </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #801682 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=801682\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> pv = 0<BR>\n" );
document.write( "fv = 240,000<BR>\n" );
document.write( "np = 39 * 12 = 468 months<BR>\n" );
document.write( "ir = 10.5%/12 = .875% per month<BR>\n" );
document.write( "payment at end of time period.\r<BR>\n" );
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document.write( "click on pmt and the calculator tells you that you would have to invest 36.22 at the end of each month for 39 years to have 240,000 at the end of the 39 year investment period.\r<BR>\n" );
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document.write( "i double checked with my ti-ba-ii calculator and it tells me that the more exact figure is 36.21976181 at the end ofeach month.\r<BR>\n" );
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document.write( "fv = future value<BR>\n" );
document.write( "pv = present vlue<BR>\n" );
document.write( "np = number of time periods<BR>\n" );
document.write( "pmt = payment in each time period<BR>\n" );
document.write( "ir = interest rate % per time period<BR>\n" );
document.write( "payment at (beginning/end) tells you whether your payment needs to be at the beginnikng of each time period or at the end of each time period.\r<BR>\n" );
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document.write( "if your answer needs to be to the nearest penny, then 36.22 is your answer.\r<BR>\n" );
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document.write( "the online calculator i used can be found 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( "here's a display of the result of using that calculator.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2021/022601.jpg\" >\r<BR>\n" );
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document.write( " </SPAN>\n" );
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