document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1182216>Question 1182216</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You decide to make regular deposits every month into an account that earns 4% annual interest, compounded monthly. You hope to have $47000 at the end of 18 years. What is the amount of the regular payment you need to make? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #812226 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=812226\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> P=m(1+(r/n)^nk-1)/(r/n)<BR>\n" );
document.write( "47000=m(1+.04/12))^216-1/(.04/12), multiply through by (0.04/12) and divide by the other term.<BR>\n" );
document.write( "156.667=m(1.05) but round at the end<BR>\n" );
document.write( "m=$148.93 </SPAN>\n" );
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