+0  
 
0
71
1
avatar+47 

PV=11,000

i=0.005

PMT=$500

n=?

positivityqueen  Jul 2, 2017
Sort: 

1+0 Answers

 #1
avatar
0

Why post same question twice? It's difficult enough for Guests battling the everlasting Captcha. I must fight up to three or more per post when Captchas are antsy to fight. They must prove themselves to Google to defeat bots. However, I may be defeated as they grow stronger everyday with stealth. I can not spot a car in an ocean yet I fail to see the sky. Here is the answer you seek.

 

This is the notation for our problem

PV = A(P/A, i%, n)

Now to set up the formula

PV = A((((1+i)^n)-1)/(i*(1+i)^n)

11000 = 500((((1.005)^n)-1)/(.005*(1.005)^n)

Many methods you could solve for n.

After many guesses I came the value is in between 23 and 24. Furthermore, with linear interpolation I came to the conclusion n=23.4897

Guest Jul 3, 2017

14 Online Users

avatar
avatar
avatar
avatar
We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners.  See details