document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=131379>Question 131379</A>: <I><SPAN STYLE=\"word-break: break-all;\"> The question is:\r<BR>\n" );
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document.write( "How much must you invest each quarter in a bond fund yielding 9.7% compounded quarterly to become a millionaire in 20 years?\r<BR>\n" );
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document.write( "For some reason I'm completely stuck.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #95954 by </B><A HREF=/tutors/aboutme.mpl?userid=edjones><B>edjones(8007)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=edjones><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=edjones><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=95954\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Let A=1,000,000, r=.097, n=4, t=20 P=principal<BR>\n" );
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document.write( "A=P(1+ r/n)^nt<BR>\n" );
document.write( "1000000=P(1+ .097/4)^(4*20)<BR>\n" );
document.write( "P=10^6/(1.02425)^100<BR>\n" );
document.write( "=10^6/10.9799...<BR>\n" );
document.write( "=$91,075.75 Final answer<BR>\n" );
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document.write( "Ed </SPAN>\n" );
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