document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1206584>Question 1206584</A>: <I><SPAN STYLE=\"word-break: break-all;\"> How much must be placed each month into a retirement account earning 7% compounded monthly if the value of the account is to reach $ 1,000,000 in 20 years? and If the account continues to earn 7% after retirement, how much per year will the account earn? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #844186 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(52778)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ikleyn><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=ikleyn><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=844186\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .<BR>\n" );
document.write( "How much must be placed each month into a retirement account earning 7% compounded monthly.<BR>\n" );
document.write( "(a) If the value of the account is to reach $ 1,000,000 in 20 years? <BR>\n" );
document.write( "(b) and If the account continues to earn 7% after retirement, how much per year will the account earn?<BR>\n" );
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document.write( "For the first question, a TWIN problem was solved at this link\r<BR>\n" );
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document.write( "https://www.algebra.com/algebra/homework/word/finance/Money_Word_Problems.faq.question.1206598.html\r<BR>\n" );
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document.write( "with complete explanations and formulas, so you can use it as your TEMPLATE.\r<BR>\n" );
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document.write( "The second question is NONSENSICAL (= makes no sense), since the compounded account <BR>\n" );
document.write( "earns different amounts in different years.\r<BR>\n" );
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document.write( "Who generates non-sensical questions ?\r<BR>\n" );
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document.write( "&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- Your textbook ?\r<BR>\n" );
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document.write( "&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- Your professor ?\r<BR>\n" );
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document.write( "&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- You on your own, by creating them on your knee in the garage?\r<BR>\n" );
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document.write( " </SPAN>\n" );
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