In Problem use formula (5) or (6) to solve each problem. PV = $5,000; i = 0.01;

Question:

In Problem use formula (5) or (6) to solve each problem.

PV = $5,000; i = 0.01; PMT = $200; n = ?

Formula 5

,1- (1 + i) i PV = PMT- (5)

Formula 6

PMT = i 1- (1 + i) n PV- (6)

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Finite Mathematics For Business Economics Life Sciences And Social Sciences

ISBN: 9780134862620

14th Edition

Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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Question Posted: Dec 17, 2023 12:11 AM

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In Problem use formula (5) or (6) to solve each problem. PV = $5,000; i = 0.01;

Question:

,1- (1 + i)¹ i PV = PMT- (5)

Step by Step Answer:

To find the value of n using formula 5 we can substitute the given values into the equation and solv...View the full answer

Finite Mathematics For Business Economics Life Sciences And Social Sciences

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