document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1195634>Question 1195634</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You want to be able to withdraw $40,000 from your account each year for 15 years after you retire.\r<BR>\n" );
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document.write( "You expect to retire in 20 years.\r<BR>\n" );
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document.write( "If your account earns 10% interest, how much will you need to deposit each year until retirement to achieve your retirement goals?\r<BR>\n" );
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document.write( "Round your answer to the nearest cent. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #828359 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=828359\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> The future value is $600,000<BR>\n" );
document.write( "FV=m(1.1^20-1/(0.10); multiply through by 0.10<BR>\n" );
document.write( "60000=5.727*m, round at the end, dividing both sides by 5.727<BR>\n" );
document.write( "$10,475.77 is the amount of the annual deposit. </SPAN>\n" );
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