anonymous
  • anonymous
solve this
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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jamiebookeater
  • jamiebookeater
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Jack1
  • Jack1
... whats a lac?
anonymous
  • anonymous
@Jack1 1 lac =100 000 Rupees
Jack1
  • Jack1
hiya, cheers and a rupee is like a Pound/Dollar? (base currency)

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terenzreignz
  • terenzreignz
Present value?
terenzreignz
  • terenzreignz
Present value has to total the downpayment plus the present value of the installments.
terenzreignz
  • terenzreignz
Present value of installments is given by \[\huge xa_{\bar{n}}= \frac{1-(1+r)^{-n}}{r}\] Where n is the number of installments, x is the amount paid per installment, and r is the effective rate of interest. Once you find that, the downpayment d may be arrived at by... \[\Huge 3000000 = xa_{\bar n}+d \]
anonymous
  • anonymous
r= 10 n= 12
anonymous
  • anonymous
what is an
anonymous
  • anonymous
@terenzreignz is that a general formula?
terenzreignz
  • terenzreignz
Sorry, this is the general formula... \[\huge a_{\bar{n}}= \frac{1-(1+r)^{-n}}{r}\] For the present value of an installment of 1 per period, for n periods, called an annuity immediate. If you make payments of x per period, for n periods, then the present value is... \[\huge xa_{\bar n}\]
anonymous
  • anonymous
|dw:1371483555896:dw|
terenzreignz
  • terenzreignz
Let me remind you that r has so far been expressed in percent... it is in fact... r = 10% = 0.1 Just saying...
anonymous
  • anonymous
oops srry
anonymous
  • anonymous
|dw:1371483809167:dw|
terenzreignz
  • terenzreignz
hmm... \[\Large a_{\bar n}= \frac{1 - 1.1^{-1}}{0.1}\]
terenzreignz
  • terenzreignz
LaTeX is not working for me (for some reason)
anonymous
  • anonymous
1/1.1
terenzreignz
  • terenzreignz
1-1.1^(-12) And you divide this by 0.1 (or multiply it by 10)
anonymous
  • anonymous
its n= 12 or n=1
terenzreignz
  • terenzreignz
n is 12 It's paid 12 times in succession, yes?
anonymous
  • anonymous
okay, then i got this after putting the value |dw:1371484505857:dw|
terenzreignz
  • terenzreignz
Where do you get 11?
anonymous
  • anonymous
srry its 1.1 and 0.1
anonymous
  • anonymous
|dw:1371484650979:dw|
terenzreignz
  • terenzreignz
And it's only 0.1 at the denominator. Please look at the formula again...|dw:1371484669596:dw|
anonymous
  • anonymous
okay actually i take the LCM by taking (1.1)^-12 as 1/(1.1)^12 now, what after this
terenzreignz
  • terenzreignz
Well, it doesn't matter, your calculator will probably do the heavy lifting for us (unless you can calculate the 12th power of 1.1, that is) So multiply a_n with 310000 and you'll get the present value of your installments
anonymous
  • anonymous
okay
terenzreignz
  • terenzreignz
okay... so do it.
anonymous
  • anonymous
|dw:1371485082436:dw|
terenzreignz
  • terenzreignz
okay... so this is the present value of the installments. subtract this from the total present value (which is 3 million) and you'll get the downpayment.
anonymous
  • anonymous
when i will get the downpayment , what would be the next step
anonymous
  • anonymous
okay that will be my answer :)

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