document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1188625>Question 1188625</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose you want to have $400,000 for retirement in 20 years. Your account earns 4% interest.\r<BR>\n" );
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document.write( "a) How much would you need to deposit in the account each month?\r<BR>\n" );
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document.write( "b) How much interest will you earn? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #819748 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=819748\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Sunday, April 2, 2017<BR>\n" );
document.write( "7:06 PM\r<BR>\n" );
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document.write( "It depends on whether you intend to make your first payment at the end of the first month (regular annuity) or today (annuity due).\r<BR>\n" );
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document.write( "For a regular annuity:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ PMT\ =\ \frac{FV\(\frac{r}{n}\)}{\(1\,+\,\frac{r}{n}\)^{nt}\ -\ 1}\">\r<BR>\n" );
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document.write( "where <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large PMT\"> is the periodic payment, <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large FV\"> is the future value, <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large r\"> is the interest rate as a decimal fraction, <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large n\"> is the number of payments per year, and <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large t\"> is the number of years of the investment.\r<BR>\n" );
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document.write( "For an annuity due:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ PMT\ =\ \(\frac{FV\(\frac {r}{n}\)}{\(1\, +\,\frac{r}{n}\)^{nt}\ -\ 1}\)\(\frac{1}{1\,+\,\frac{r}{n}}\)\"> \r<BR>\n" );
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document.write( "For this problem:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large FV\ =\ 400,000\"><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large r\ =\ 0.04\"><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large n\ =\ 12\"><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\Large t\ =\ 20\">\r<BR>\n" );
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document.write( "The amount of interest earned is:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ FV\ -\ \(PMT\,\cdot\,n\,\cdot\,t\)\">\r<BR>\n" );
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document.write( "You can do your own arithmetic\r<BR>\n" );
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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" );
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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" );
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