Solve for P....

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10,600*((1-(1+0.05)^-15) / (0.05))+81,850.39*(1+(0.05))^-15 - P=0, solve for P.

Sorry, can't get the right answer!!. Thanks for any help.

Guest Jan 13, 2017

Guest · Answer 1 · 2017-01-13T04:44:54

110078.653 = P

10,600*((1-(1+0.05)^-15) / (0.05))+81,850.39*(1+(0.05))^-15 - P=0 ll+P

10,600*((1-(1+0.05)^-15) / (0.05))+81,850.39*(1+(0.05))^-15=P

Guest · Answer 2 · 2017-01-13T04:54:17

Thanks for trying. But that is NOT the answer in my book!.

Guest · Answer 3 · 2017-01-13T05:07:13

10,600*((1-(1+0.05)^-15) / (0.05))+81,850.39*(1+(0.05))^-15 - P=0

10,600*((1-(1+0.05)^-15) / (0.05))+81,850.39*(1+(0.05))^-15 = P

10,600 x ((0.51898290) / 0.05) + 81,850.39 x 0.4810171.. = P

10,600 x 10.379658 + 39,371.44 = P

110,024.37 + 39,371.44 = P

P = 149,395.81

Guest · Answer 4 · 2017-01-13T05:19:24

Thank you very much Guest #3. That is the correct answer in my book.