document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1203142>Question 1203142</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose you invest $200 a month for 4 years into an account earning 8% compounded monthly. After 4 years, you leave the money, without making additional deposits, in the account for another 21 years. How much will you have in the end? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #838459 by </B><A HREF=/tutors/aboutme.mpl?userid=math_tutor2020><B>math_tutor2020(3817)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=math_tutor2020><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/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=838459\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font color=black size=3><BR>\n" );
document.write( "First we compute the future value of depositing periodic payments of $200 a month for 4*12 = 48 months.\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=FV+=+200%2A%28%281%2B0.08%2F12%29%5E48+-+1%29%2F%280.08%2F12%29 ALIGN=MIDDLE  ALT=\"FV+=+200%2A%28%281%2B0.08%2F12%29%5E48+-+1%29%2F%280.08%2F12%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > (note that i = 0.08/12)\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=FV+=+11269.9830130137 ALIGN=MIDDLE  ALT=\"FV+=+11269.9830130137\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=FV+=+11269.98 ALIGN=MIDDLE  ALT=\"FV+=+11269.98\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "The account is valued at $11,269.98 after the four years are up.\r<BR>\n" );
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document.write( "That money is then treated as a deposit into an account with the same interest rate and compounding frequency.<BR>\n" );
document.write( "The money is not touched for 21 years (aka 21*12 = 252 months)\r<BR>\n" );
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document.write( "Use the compound interest formula<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+11269.98%2A%281%2B0.08%2F12%29%5E%2812%2A21%29 ALIGN=MIDDLE  ALT=\"A+=+11269.98%2A%281%2B0.08%2F12%29%5E%2812%2A21%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+60133.5137078229 ALIGN=MIDDLE  ALT=\"A+=+60133.5137078229\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+60133.51 ALIGN=MIDDLE  ALT=\"A+=+60133.51\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "Answer: <font color=red>$60,133.51</font><BR>\n" );
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