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annuity formula: A=R*( (1+i)^n - 1 ) / (i)
compound formula: A=P(1+ r/n)^nt

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Other answers:

Sorry, it won't load for me, or else I really would help you.
A company contributes $150 per month into a retirement fund paying a nominal interest rate of 4.40% APR compounded monthly and employees are permitted to invest up to $ 2,900 per year into another retirement fund which pays a nominal interest rate of 4.40% APR compounded annually. How large can the combined retirement fund be worth in 25 years?
we can do this if you have the formulas
i do but im not getting the results.
i guess this is the formula you wrote A=R*( (1+i)^n - 1 ) / (i) but i am not sure what all the variable represent
ok A stands for Annuity, R is the payment, i is the APR/frequency of pay, and n is the frequency of pay
so for example "i" would be .044/12
ok
then \[\frac{150(1+\frac{.044}{12})^{12-1}}{\frac{.044}{12}}\] but that can't be right, because there is no time mentioned in the formula is perhaps \(n\) the number of payments?
that would make more sense it can't really be the frequency of the payments minus one there has to be something mentioning the number of payments made
n is 12 *25 i think
ooh ok it is the number of payments
\[\frac{150(1+\frac{.044}{12})^{12\times 25-1}}{\frac{.044}{12}}\]
why minus 1?
that is what you wrote
you wrote \(n-1\) i assumed that was in the exponent
makes sense if you are summing a geometric sequence i think
its not n-1. its raised to n and then you subtract everything in the parenthesis by 1.
oh damn ok
A = R ( ( 1+i)^(n) - 1 ) / (i)
\[\frac{150((1+\frac{.044}{12})^{300}-1)}{\frac{.044}{12}}\]
i get 81741.62 rounded http://www.wolframalpha.com/input/?i=\frac{150%28%281%2B\frac{.044}{12}%29^{300}-1%29}{\frac{.044}{12}}
yeah thats what i got earlier too
what do we do with the 2900?
redo it
\[2900((1.044)^{25}-1)\]
since it is yearly, \(i=1\)
why dont we divide or multiply by 12 anywhere?
not if it is yearly, no that is for monthly
o i think thats probably what ive been doing wrong
2900 per year compounded annually it says
THANKS! :)

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