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Here's the annuity formula: A=R*( (1+i)^n - 1 ) / (i)
im confused about what im supposed to do
not everyone have ms office
isn't this just a multiplication problem?
\[644.30\times 12\times 25\] is the total you pay
i dont know ive been trying to figure it out. i did try multiplying the payments by the years but that wasnt right.
you pay monthly
ok that's right. i was multiplying bu just the years instead of years times frequency of payments
why isnt the 2nd blank 155811.6?
dunno i didn't compute
\[644.30\times 12\times 25-865.62\times 12\times 25\]
no that is wrong
it wanted me to get that answer and then subtract it from the previous to get the difference
\[644.30\times 12\times 25-865.62\times 12\times 15\]
can you help with this one too please?
i would if i could, but i have absolutely no idea
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?
dont have the book. lol i have the annuity formula along with the compounding interest and simple interest formulas
i guess this requires the annuity formula, because you are investing every month (or year)
yeah thats what i used... i dont really understand the 2nd half of the question though....
the invest up to 2,900 part
use the formula for yearly at 2,900 per year
i don't know it, so i can't do it
or maybe i use the compound formula: A=P(1+ r/n)^nt