Question

833.30/ 1-(1+0.00833)^-360

Answer 1

Answer:

833.25 or 877.59

Step-by-step explanation:

I solved this in two different ways because I wasn't sure on how the question was meant to be read.

Attempt 1:

(833.3/1)-(1+0.00833)^-360

(1+0.00833)^-360 = 0.0505

so:

833.3 - 0.0505 = 833.25

Attempt 2:

833.3/(1-(1+0.00833)^-360)

1- 0.0505 = 0.9495

833.3/0.9495 = 877.59