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No i don't

ok now tell me for how many moths you will be investing??

so for 3 years that's 36 months

you started investing from Jan 200 - Dec 2003
right it is 36 months

A=100,000x(1+18%)^36

a=100,000 (19)^36

can i leave it in the annual form and just do
A=100,000x(19)^3
?

@chrissytt17 here principal is unknown

are you getting my point?

i thought the principal is the amount that the individual wants

no what you want that you will get at what time????

the individual wishes to have $100,000 by the end of 2003, how much should be invested each month?

100,000=Px(1+r/12)^12n

100,000= P x (1+.18/12)^12*3
?

100,000= P x (1.015)^36

am i on the right track?

wait let me cross check it

i came up with about 58,513.75

no it is not correct

I followed the formula

I think I am lost

hey i was not telling you about the Annuity do you know about it?

no

you are in which class

math 118

ok do you know about time value of money

I'm not sure

\[100000 = P \times \sum_{n=1}^{36}(1.015)^n\]\]

ok solve this one you will get the exact value

the second factor on RHS is called as Present Value Interest Factor of Annuity

I don't know what that symbol is

it is summation