document.write( "Question 1190559: How much money should be invested at 5% compounded quarterly for
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Algebra.Com's Answer #822252 by ikleyn(52788)\"\" \"About 
You can put this solution on YOUR website!
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\n" ); document.write( "How much money should be invested at 5% compounded quarterly for
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\n" ); document.write( "\n" ); document.write( "            Use the formula for the future value of the discretely compounded account.\r
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document.write( "        FV = \"X%2A%281%2B0.05%2F4%29%5E%284%2A20%29\",      (1)\r\n" );
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document.write( "where X is the unknown invested amount under the problem's question.\r\n" );
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document.write( "With the given value  FV = P20,000, the equation takes the form\r\n" );
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document.write( "    20000 = \"X%2A%281%2B0.05%2F4%29%5E%284%2A20%29\",     (2)\r\n" );
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document.write( "Calculate  \"%281%2B0.05%2F4%29%5E%284%2A20%29\" = 2.701485  and solve equation (2) for X\r\n" );
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document.write( "    X = \"20000%2F2.701485\" = 7403.3356.\r\n" );
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document.write( "Round it to the closest greater cent (centavo ?) to get the ANSWER  P7403.34.\r\n" );
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document.write( "CHECK.  FV = \"7403.34%2A%281%2B0.05%2F4%29%5E%284%2A20%29\" = 20,000.01.    ! Good enough !\r\n" );
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\n" ); document.write( "\n" ); document.write( "For all details and explanations,  look into these two lessons\r
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\n" ); document.write( "\n" ); document.write( "After reading these lessons,  you will tackle such problems on your own without asking for help from outside.\r
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\n" ); document.write( "\n" ); document.write( "Also,  you have this free of charge online textbook in ALGEBRA-I in this site\r
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\n" ); document.write( "\n" ); document.write( "The referred lessons are the part of this online textbook under the topic \"Logarithms\".\r
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\n" ); document.write( "\n" ); document.write( "Save the link to this online textbook together with its description\r
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\n" ); document.write( "\n" ); document.write( "Free of charge online textbook in ALGEBRA-I
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