SOLUTION:
Use the future value formula to find the indicated value.
FV=4,000
​
i equals 0.03
​
PMT equals $ 800
​
n equals???
​(Round up to the nearest i
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-> SOLUTION:
Use the future value formula to find the indicated value.
FV=4,000
​
i equals 0.03
​
PMT equals $ 800
​
n equals???
​(Round up to the nearest i
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Question 1068996:
Use the future value formula to find the indicated value.
FV=4,000
i equals 0.03
PMT equals $ 800
n equals???
(Round up to the nearest integer as needed.) Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! FV=PV (1+r)^n
4000=800(1+0.03)^n
5=(1.03)^n
ln both sides
ln 5=n ln (1.03)
(logs would work, too)
54.45=n round up to 55.
