<PRE><B>Question 474969</B>
Work out the answer to this equation (1/r)-(1/[r(1+r)^t]) in the equation r is the annual interest rate and t is th length of time in years,in this case the interest rate r is 8% and the time in years t is 70. i think the answer is 12.4428. 
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(1/0.08) - (1/[0.08(1.08)^70](
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= 12.5 - 1/[0.08*218.61]
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= 12.5 - 0.0572
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= 12.4428
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Cheers,
Stan H.
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