document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1187334>Question 1187334</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 4.	You are planning to deposit $15,000 into a bank account at the end of each year for 5 years. The bank account earns 7.5% compounded annually. After the four years (i think you meant five), you plan to withdraw $10,000 and transfer the balance to an account that earns 6% interest per year compounded semiannually and will remain in the account for 3 years. How much will be in your account at the end of the 8 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #818731 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=818731\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> this lends itself to excel analysis.<BR>\n" );
document.write( "this is the output of my efforts there.\r<BR>\n" );
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document.write( "i think you meant after the 5 years.<BR>\n" );
document.write( "i'll assume that's what you meant because 5 + 3 = 8.<BR>\n" );
document.write( "if it's not what i assumed, then please correct me and i'll try again.\r<BR>\n" );
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document.write( "here's my excel analysis.\r<BR>\n" );
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document.write( "for the first give year, you are depositing 15000 at the end of each year.\r<BR>\n" );
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document.write( "at the end of year 1, you have 0 * 1.075 + 15000 = 15000<BR>\n" );
document.write( "at the end of year 2, you have 15000 * 1.075 + 15000 = 31125<BR>\n" );
document.write( "at the end of year 5, you have 67093.83 * 1.075 + 5000 = 77125.87<BR>\n" );
document.write( "you only have 5000 deposit because you withdraw 10000.<BR>\n" );
document.write( "15000 deposit minus 10000 withdrawal equals a net deposit of 5000.\r<BR>\n" );
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document.write( "77125.87 is the remaining balance in the account that is then transferred to the new account that is earning 6% a year compounded semi-annually.\r<BR>\n" );
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document.write( "at the end of year 5.5, you have 77125.87 * 1.03 = 79439.64.\r<BR>\n" );
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document.write( "this ame procedure continue until, at the end of year 8, you have 89410.02 * 1.03 = 92092.32.\r<BR>\n" );
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document.write( "92092.32 is what you have at the end of the 8th year.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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