document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1195622>Question 1195622</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You have $500,000 saved for retirement. Your account earns 7% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 25 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #828358 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><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=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=828358\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> PV = P ×  {1 − (1+r)−nr/r}<BR>\n" );
document.write( "500000=P(1-(1+(.07/12))^-300/).07/12. Multiply through by 0.07/12<BR>\n" );
document.write( "2916.6667=P*(0.8253)<BR>\n" );
document.write( "P=$3533.90 the answer<BR>\n" );
document.write( "round at the end, not in the middle<BR>\n" );
document.write( "on calculator do 0.07/12<BR>\n" );
document.write( "then add to 1<BR>\n" );
document.write( "then raise to -300 power (25 years and 12 months/yr)<BR>\n" );
document.write( "subtract that value from 1<BR>\n" );
document.write( "then move it to the other side by dividing both sides. </SPAN>\n" );
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