Question 1025874
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*[tex \LARGE \ \ \ \ \ \ \ \ \ \ FV\ =\ PMT\left\[\frac{\left(1\ +\ \frac{r}{100n}\right)^{nt}\ -\ 1}{\frac{r}{100n}}\right\]\ +\ PV\left(1\ +\ \frac{r}{100n}\right)^{nt}]


Where *[tex \Large FV] is the future value, *[tex \Large PMT] is the amount of the equal periodic payments, *[tex \Large r] is the annual interest rate (take the 100 out of the denominator if you are expressing your interest rate as a decimal), *[tex \Large n] is the number of compounding periods per year, *[tex \Large t] is the number of years, and *[tex \Large PV] is the present value (that is, the amount of the initial deposit).  You have a bit of calculator work to do unless you have Excel or Numbers (on a Mac machine) in which case you can enter:


*[tex \LARGE \ \ \ \ \ \ \ \ \ \  =FV(0.04/12,84,-200,-8000,0)]


into a convenient spreadsheet cell and it will give you the answer you need.


John
*[tex \LARGE e^{i\pi}\ +\ 1\ =\ 0]
My calculator said it, I believe it, that settles it

*[tex \Large \ \
*[tex \LARGE \ \ \ \ \ \ \ \ \ \  

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