document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1177249>Question 1177249</A>: <I><SPAN STYLE=\"word-break: break-all;\"> (ST  -  2)<BR>\n" );
document.write( "Time Value of<BR>\n" );
document.write( "Money<BR>\n" );
document.write( "Assume that 4 years from now you will need $1,000. Your bank compounds interest<BR>\n" );
document.write( "at an 8% annual rate.<BR>\n" );
document.write( "164 Part 2: Fixed Income Securities\r<BR>\n" );
document.write( "\n" );
document.write( "b. If you want to make equal payments at the end of Years 1 through 4 to<BR>\n" );
document.write( "accumulate the $1,000, how large must each of the 4 payments be?<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #805570 by </B><A HREF=/tutors/aboutme.mpl?userid=Solver92311><B>Solver92311(821)</B></A><img src=\"/images/stars/stars-11.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Solver92311><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=Solver92311><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=805570\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font face=\"Times New Roman\" size=\"+2\">\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ A\ =\ FVOA\(\frac{r}{\(1+r\)^n\,-\,1}\)\">\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Where A is the annual annuity payment, FVOA is the Future Value of an Ordinary Annuity, r is the interest rate per compounding period (expressed as a decimal), and n is the number of payments.  Plugin your numbers and do the arithmetic.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "																<BR>\n" );
document.write( "John<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE e^{i\pi}\ +\ 1\ =\ 0\"><BR>\n" );
document.write( "My calculator said it, I believe it, that settles it<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/display-illustration.mpl?tutor=Solver92311&illustration_name=darwinfish.jpg\">\r<BR>\n" );
document.write( "\n" );
document.write( "From <https://www.algebra.com/cgi-bin/upload-illustration.mpl> <BR>\n" );
document.write( "I > Ø<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large \ \\r\"> </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );