document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1201794>Question 1201794</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You put $159 per month in an investment plan that pays an APR of 5%. How much money will you have after 24 years? Compare this amount to the total amount of deposits made over the time period. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #836331 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=836331\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 5% compounded monthly = .4166666...% per month.<BR>\n" );
document.write( "24 years * 12 months per year = 288 months.<BR>\n" );
document.write( "159 invested at the end of each month for 288 months at .4166666.....% per month has a future value of 88,220.19 at the end of the 24 year investment period.<BR>\n" );
document.write( "total payments were 159 * 288 = 45,792.<BR>\n" );
document.write( "total interest was 88,220.19 minus 45,792 = 42,428.19.<BR>\n" );
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