document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1183129>Question 1183129</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Shaun and Rebecca have a new grandson. How much money should they invest now so that he will have $43,000 for his college education in 18 years? The money is invested at 4.95% compounded semiannually. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #813307 by </B><A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><B>ankor@dixie-net.com(22740)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><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=ankor@dixie-net.com><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=813307\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> How much money should they invest now so that he will have $43,000 for his college education in 18 years?<BR>\n" );
document.write( " The money is invested at 4.95% compounded semiannually.<BR>\n" );
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document.write( "Use the compound interest formula: <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P%281%2B%28r%2Fn%29%29%5E%28nt%29 ALIGN=MIDDLE  ALT=\"P%281%2B%28r%2Fn%29%29%5E%28nt%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = A, where<BR>\n" );
document.write( "A = amt after time (43000)<BR>\n" );
document.write( "P = initial amt<BR>\n" );
document.write( "r = rate of annual interest (decimal form) (.0495)<BR>\n" );
document.write( "n = number of compound times per year (2)<BR>\n" );
document.write( "t = no. of years (18)<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P%281%2B%28.0495%2F2%29%29%5E%282%2A18%29 ALIGN=MIDDLE  ALT=\"P%281%2B%28.0495%2F2%29%29%5E%282%2A18%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 43000<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P%281.02475%29%5E36 ALIGN=MIDDLE  ALT=\"P%281.02475%29%5E36\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 43000<BR>\n" );
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document.write( "2.4112674P = 43000<BR>\n" );
document.write( "P = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=43000%2F2.4112674 ALIGN=MIDDLE  ALT=\"43000%2F2.4112674\"   DISABLED_style= \"max-width:90%; height:auto;\" > <BR>\n" );
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document.write( "P = $17,832.95 invested for 18 yrs to get $43,000 </SPAN>\n" );
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