document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1183166>Question 1183166</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How much should you invest each month in order to have $300,000 if your rate of return is 3% compounded monthly and you want to achieve your goal in 20 years? How much will your savings be worth after 10 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #813331 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=813331\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> use the calculator 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( "first you want to find the payment required.\r<BR>\n" );
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document.write( "inputs are:\r<BR>\n" );
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document.write( "present value is equal to 0<BR>\n" );
document.write( "future value is equal to 300000<BR>\n" );
document.write( "number of periods is equal to 20 years * 12 = 240 months.<BR>\n" );
document.write( "interest rate per period is equal to 3% per year / 12 = .25% per month.<BR>\n" );
document.write( "payments are made at the end of each period.\r<BR>\n" );
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document.write( "output is:\r<BR>\n" );
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document.write( "payment = -913.79.\r<BR>\n" );
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document.write( "it's negative because it's money going out.<BR>\n" );
document.write( "future value is positive because it's money coming in.\r<BR>\n" );
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document.write( "results are shown below:\r<BR>\n" );
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document.write( "now that you know the payment required, next you want to find the future value after 10 years.\r<BR>\n" );
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document.write( "inputs are:\r<BR>\n" );
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document.write( "present value is equal to 0<BR>\n" );
document.write( "number of periods is equal to 10 years * 12 = 120 months.<BR>\n" );
document.write( "payment amount is equal to -932.79<BR>\n" );
document.write( "interest rate per period = 3% per year / 12 = .25% per month.<BR>\n" );
document.write( "payment is made as the end of each time period.\r<BR>\n" );
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document.write( "output is:\r<BR>\n" );
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document.write( "future value = 127,694.31\r<BR>\n" );
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document.write( "results are shown below:\r<BR>\n" );
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document.write( "a month by month analysis for selected months is shown below.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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