document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1200182>Question 1200182</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Francine currently has $45,000 in her 401k account at work, and plans to contribute $800 at the end of each month for the next 15 years. How much will she have in the account in 15 years, if the account averages a 6% annual return? Assume monthly compounding.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #834277 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=834277\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> she currently has 45000 in her account.<BR>\n" );
document.write( "she will contribute an additional 800 at thre end of each month for the next 15 years.<BR>\n" );
document.write( "the account averages 6% per year compounded monthly.\r<BR>\n" );
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document.write( "you can use a financial calculator to solve this.<BR>\n" );
document.write( "the one i use online is at <a  rel=nofollow HREF= \"https://arachnoid.com/finance/\" target = \"_blank\">https://arachnoid.com/finance/</a>\r<BR>\n" );
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document.write( "the calculator says that you will have 343,089.18 at the end of the 15 year invstment period.\r<BR>\n" );
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document.write( "the results are shown below:\r<BR>\n" );
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document.write( "your inputs are:<BR>\n" );
document.write( "pv = -45000<BR>\n" );
document.write( "fv = 0<BR>\n" );
document.write( "np = 15 years * 12 months per year = 180 months<BR>\n" );
document.write( "pmt = -800 payable at the end of each month.<BR>\n" );
document.write( "ir = 6% per year divided by 12 months per year = .5% per month.\r<BR>\n" );
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document.write( "calculator comes back with fv = 343,089.18\r<BR>\n" );
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document.write( "the present value and the payment per month were negative becaus that is your money that you invested in the account.<BR>\n" );
document.write( "the future value is positive because that is what you earned at the end of the 15 years investment period.\r<BR>\n" );
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