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tiawanad Group Title

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

  • one year ago
  • one year ago

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  1. tkhunny Group Title
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    So, \(1.08^{5} = 1.4693280768\) Now what?

    • one year ago
  2. tiawanad Group Title
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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

    • one year ago
  3. tkhunny Group Title
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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?

    • one year ago
  4. tiawanad Group Title
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    divide that by 1.08

    • one year ago
  5. tkhunny Group Title
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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.

    • one year ago
  6. tiawanad Group Title
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    5.86660095

    • one year ago
  7. tiawanad Group Title
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    on the calculator how did you get the answer for 1.08^5

    • one year ago
  8. tkhunny Group Title
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    That is right. You must find the exponent key. Usually \(x^{y}\).

    • one year ago
  9. tiawanad Group Title
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    so now what do I do

    • one year ago
  10. tkhunny Group Title
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    Mutiply by 4000 and you are done.

    • one year ago
  11. tiawanad Group Title
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    now you have 4000(5.86660095) I got 23466.78 and it said it was wrong

    • one year ago
  12. tkhunny Group Title
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    I would try 23466.40. Not sure how you manged 0.78.

    • one year ago
  13. tiawanad Group Title
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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

    • one year ago
  14. tkhunny Group Title
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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.

    • one year ago
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