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tiawanad

  • 2 years ago

FUTURE OF VALUE OF ANNNUITY A1=4000 I=.08 N=5 4000(1+.08-1)/.08

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  1. tkhunny
    • 2 years ago
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    So, \(1.08^{5} = 1.4693280768\) Now what?

  2. tiawanad
    • 2 years ago
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    do not know what I need to do next could you walk me step by step on this so then I will know the right way to figuring this out

  3. tkhunny
    • 2 years ago
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    That's what I'm doing. The next things would be to subtract 1. 1.4693280768 - 1 = 0.4693280768 What's next?

  4. tiawanad
    • 2 years ago
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    divide that by 1.08

  5. tkhunny
    • 2 years ago
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    Sorry, this server and my firewall are not getting along and I haven't been able to make them more friendly. Not quite. There is not "1" in the denominator. It's just 0.08. divide by that.

  6. tiawanad
    • 2 years ago
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    5.86660095

  7. tiawanad
    • 2 years ago
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    on the calculator how did you get the answer for 1.08^5

  8. tkhunny
    • 2 years ago
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    That is right. You must find the exponent key. Usually \(x^{y}\).

  9. tiawanad
    • 2 years ago
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    so now what do I do

  10. tkhunny
    • 2 years ago
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    Mutiply by 4000 and you are done.

  11. tiawanad
    • 2 years ago
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    now you have 4000(5.86660095) I got 23466.78 and it said it was wrong

  12. tkhunny
    • 2 years ago
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    I would try 23466.40. Not sure how you manged 0.78.

  13. tiawanad
    • 2 years ago
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    got it thanks so much now I understand how to do this, my book was not giving me good information and would stop in the middle of the process thanks so much

  14. tkhunny
    • 2 years ago
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    Can I ask you another difficult question before you get away? It's about whether or not you have the right prerequisites for this course? If you don't want to go there, that's fine.

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