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mariomintchev

  • one year ago

I need help with this INTEREST question

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

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

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

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

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

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

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

  9. mariomintchev
    • one year ago
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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.

  10. satellite73
    • one year ago
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    you pay monthly

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

  12. satellite73
    • one year ago
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    ok good

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

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

  15. mariomintchev
    • one year ago
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    nevermind!

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

  17. satellite73
    • one year ago
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    no that is wrong

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

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

  20. mariomintchev
    • one year ago
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    yup

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

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

  24. satellite73
    • one year ago
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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?

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

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

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

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

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

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

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

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