document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1193774>Question 1193774</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Moisha is saving up money for a down payment on a house.  She currently has $5579, but knows she can get a loan at a lower interest rate if she can put down $6160.  If she invests the $5579 in an account that earns 5.2% annually, compounded monthly, how long will it take Moisha to accumulate the $6160?  Round your answer to two decimal places, if necessary. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #825944 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(52803)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ikleyn><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=ikleyn><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=825944\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .\r<BR>\n" );
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document.write( "In this problem, after formal calculations you get the answer t= 1.909264 years, or 1 year and 10.91 months.\r<BR>\n" );
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document.write( "&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;But this answer contradicts the logic and is not final.\r<BR>\n" );
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document.write( "After that, you MUST round this non-integer number of months to the closest greater integer number of months \r<BR>\n" );
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document.write( "in order for the bank was in position to make the last compounding.\r<BR>\n" );
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document.write( "So the final answer is 1 year and 11 months, since the account is compound monthly.\r<BR>\n" );
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document.write( "I repeated this note about 77 times at this forum, but some tutors like @Theo ignore this necessity <BR>\n" );
document.write( "to round to the closest greater integer number of compound periods, and prefer to teach incorrectly.\r<BR>\n" );
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document.write( "So I just tired to repeat it again and again.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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