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Can you show me step by step and the formula you use for example, (A/G, i,N) = 1/i - N/((1+i)^N -1). Do not use excel
Can you show me step by step and the formula you use for example, (A/G, i,N) = 1/i - N/((1+i)^N -1).
Do not use excel please.
Shamsir's small business has been growing slowly. He has noticed that his monthly profit increases by 1 percent every two months. Suppose that the profit at the end of this month is $10,000. What is the present value of all his profits over the next two years? Annual nominal interest is 18 percent, compounded monthly. Shamsir's profits over the next two years will be $ (Round to the nearest dollar as needed.)
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