document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1198391>Question 1198391</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Find the time needed to Reach an investment goal if you want to say 5000 before buying your first new car and you have 3000 right now tp invest at 3% interest compound monthley<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #831979 by </B><A HREF=/tutors/aboutme.mpl?userid=ewatrrr><B>ewatrrr(24785)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ewatrrr><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=ewatrrr><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=831979\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  In General <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A%28t%29+=+P%281%2Br%2Fn%29%5E%28nt%29 ALIGN=MIDDLE  ALT=\"A%28t%29+=+P%281%2Br%2Fn%29%5E%28nt%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "for example: in one year:  A = 3000(1.0025)^12 = $3091.25 rounded<BR>\n" );
document.write( "             in two years:  A = 3000(1.025)^24 = $3185.27 rounded<BR>\n" );
document.write( "             in 17 years;  A = 4992.70 rounded<BR>\n" );
document.write( "A = Accumulated Amount = 5000<BR>\n" );
document.write( "P= principal = 3000<BR>\n" );
document.write( "r= annual rate = .03<BR>\n" );
document.write( "n= periods per year = 12<BR>\n" );
document.write( "t= years =    <BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=5000=+3000%281.0025%29%5E%2812t%29 ALIGN=MIDDLE  ALT=\"5000=+3000%281.0025%29%5E%2812t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "  <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+log%28+5%2F3%29%2F12log%281.0025%29+=+t ALIGN=MIDDLE  ALT=\"+log%28+5%2F3%29%2F12log%281.0025%29+=+t\"   DISABLED_style= \"max-width:90%; height:auto;\" > = 17.0487 yr<BR>\n" );
document.write( "compounding monthly:<BR>\n" );
document.write( "1yr and .0487*12 = 17yr & 1mo (rounded up) </SPAN>\n" );
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