SOLUTION: P = (N/r)( 1 - (1 + r)-n )
P = (20000/0.05)( 1 - (1 + 0.05)^-20 )
= 400000(1 - .37689) = $249,244
This is the formula and the solution. Can someone PLEASE tell me how they d
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-> SOLUTION: P = (N/r)( 1 - (1 + r)-n )
P = (20000/0.05)( 1 - (1 + 0.05)^-20 )
= 400000(1 - .37689) = $249,244
This is the formula and the solution. Can someone PLEASE tell me how they d
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Question 154204: P = (N/r)( 1 - (1 + r)-n )
P = (20000/0.05)( 1 - (1 + 0.05)^-20 )
= 400000(1 - .37689) = $249,244
This is the formula and the solution. Can someone PLEASE tell me how they did (1-(1+0.05)^-20) and reached the .37689.
I am desparate and no one has answered the last 2 questions I have posted. Am I posting in the wrong area? Answer by Earlsdon(6294) (Show Source):
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