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Recall the two formulas below for the present value annuity factor (or what we called Annie in class): Formula 1: (1 + i)^n - 1/i/(1
Recall the two formulas below for the present value annuity factor (or what we called "Annie" in class): Formula 1: (1 + i)^n - 1/i/(1 + i)^n Formula 2: 1- (1 + i)^-n/i Derive formula 2 from formula 1. That is, rewrite formula 1 using algebra, until it looks like formula 2. This is a derivation, so you must clearly show all steps. (You cannot skip steps in logic.)
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