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mariomintchev

I need help with this INTEREST question

  • one year ago
  • one year ago

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  1. mariomintchev
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    • one year ago
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  2. mariomintchev
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    Here's the annuity formula: A=R*( (1+i)^n - 1 ) / (i)

    • one year ago
  3. mariomintchev
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    @jhonyy9 @jim_thompson5910 @karatechopper @Mertsj @TuringTest @UnkleRhaukus

    • one year ago
  4. mariomintchev
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    im confused about what im supposed to do

    • one year ago
  5. Best_Mathematician
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    not everyone have ms office

    • one year ago
  6. mariomintchev
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    @saifoo.khan @luis

    • one year ago
  7. satellite73
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    isn't this just a multiplication problem?

    • one year ago
  8. satellite73
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    \[644.30\times 12\times 25\] is the total you pay

    • one year ago
  9. mariomintchev
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    i dont know ive been trying to figure it out. i did try multiplying the payments by the years but that wasnt right.

    • one year ago
  10. satellite73
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    you pay monthly

    • one year ago
  11. mariomintchev
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    ok that's right. i was multiplying bu just the years instead of years times frequency of payments

    • one year ago
  12. satellite73
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    ok good

    • one year ago
  13. mariomintchev
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    why isnt the 2nd blank 155811.6?

    • one year ago
  14. satellite73
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    dunno i didn't compute

    • one year ago
  15. mariomintchev
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    nevermind!

    • one year ago
  16. satellite73
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    \[644.30\times 12\times 25-865.62\times 12\times 25\]

    • one year ago
  17. satellite73
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    no that is wrong

    • one year ago
  18. mariomintchev
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    it wanted me to get that answer and then subtract it from the previous to get the difference

    • one year ago
  19. satellite73
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    \[644.30\times 12\times 25-865.62\times 12\times 15\]

    • one year ago
  20. mariomintchev
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    yup

    • one year ago
  21. mariomintchev
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    • one year ago
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  22. mariomintchev
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    can you help with this one too please?

    • one year ago
  23. satellite73
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    i would if i could, but i have absolutely no idea

    • one year ago
  24. satellite73
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    there is some formula for this that you derive by summing a geometric series, but i don't know it. maybe it is in your book?

    • one year ago
  25. mariomintchev
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    dont have the book. lol i have the annuity formula along with the compounding interest and simple interest formulas

    • one year ago
  26. satellite73
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    i guess this requires the annuity formula, because you are investing every month (or year)

    • one year ago
  27. mariomintchev
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    yeah thats what i used... i dont really understand the 2nd half of the question though....

    • one year ago
  28. mariomintchev
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    the invest up to 2,900 part

    • one year ago
  29. satellite73
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    use the formula for yearly at 2,900 per year

    • one year ago
  30. satellite73
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    i don't know it, so i can't do it

    • one year ago
  31. mariomintchev
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    or maybe i use the compound formula: A=P(1+ r/n)^nt

    • one year ago
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