What is the size of the equal payments that must be made at the end of each of the next four years to settle a debt of $3000 due four years from now and subject to interest at 10% compounded annually?
Any help would be great thanks, need steps
The equal payments are made at the END of the time periods SO it is an ORDINARY annuity.
The debt is at the BEGINNING at the end the value is 0. So it is a PRESENT VALUE question.
i = 0.1. n=4
That should be ample help. :))
+598 
