document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1198970>Question 1198970</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Assume that you make monthly payments of $425 into an ordinary annuity paying 6% compounded monthly. His much will be in the account after 10 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #833128 by </B><A HREF=/tutors/aboutme.mpl?userid=MathLover1><B>MathLover1(20850)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=MathLover1><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=MathLover1><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=833128\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=FV+=+P%2A%28%28%281%2Br%29%5En-1%29%2Fr%29 ALIGN=MIDDLE  ALT=\"FV+=+P%2A%28%28%281%2Br%29%5En-1%29%2Fr%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "where  <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=FV ALIGN=MIDDLE  ALT=\"FV\"   DISABLED_style= \"max-width:90%; height:auto;\" > is the future value of the account <BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+P ALIGN=MIDDLE  ALT=\"+P\"   DISABLED_style= \"max-width:90%; height:auto;\" > is your monthly payment <BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r+ ALIGN=MIDDLE  ALT=\"r+\"   DISABLED_style= \"max-width:90%; height:auto;\" >is the annual percentage rate presented as a decimal <BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=n+ ALIGN=MIDDLE  ALT=\"n+\"   DISABLED_style= \"max-width:90%; height:auto;\" >is the number of deposits (= the number of years multiplied by <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=12 ALIGN=MIDDLE  ALT=\"12\"   DISABLED_style= \"max-width:90%; height:auto;\" >, in this case)\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Under the given conditions, <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P+=+425 ALIGN=MIDDLE  ALT=\"P+=+425\"   DISABLED_style= \"max-width:90%; height:auto;\" >;  <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=r+=+0.06%2F12=0.005 ALIGN=MIDDLE  ALT=\"r+=+0.06%2F12=0.005\"   DISABLED_style= \"max-width:90%; height:auto;\" >; <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=+n+=+10%2A12=120 ALIGN=MIDDLE  ALT=\"+n+=+10%2A12=120\"   DISABLED_style= \"max-width:90%; height:auto;\" >.  \r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "So, according to the formula above, you get at the end of the <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=10th ALIGN=MIDDLE  ALT=\"10th\"   DISABLED_style= \"max-width:90%; height:auto;\" > year\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=FV+=+425%2A%28%28%281%2B0.005%29%5E120-1%29%2F0.005%29 ALIGN=MIDDLE  ALT=\"FV+=+425%2A%28%28%281%2B0.005%29%5E120-1%29%2F0.005%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=FV+=69648.72 ALIGN=MIDDLE  ALT=\"FV+=69648.72\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );