How do I solve this problem below!
2 answers:
You might be interested in
That is an annuity and use the attached formula.
Total = 300 * [(1.055)^11 -1] / .055 -300
Total = 300 * <span> <span> <span> 1.8020924036 </span> </span> </span> -1 /.055 -300
Total = 300 * <span>.8020924036 / .055 - 300
</span>Total = 300 * <span> <span> <span> 14.5834982473 </span> </span> </span> -300
Total = <span> <span> <span> 4375.0494741818 </span> </span> </span> -300
Total = <span>4075.05
</span>
Total = 300 * [(1.055)^11 -1] / .055 -300
Total = 300 * <span> <span> <span> 1.8020924036 </span> </span> </span> -1 /.055 -300
Total = 300 * <span>.8020924036 / .055 - 300
</span>Total = 300 * <span> <span> <span> 14.5834982473 </span> </span> </span> -300
Total = <span> <span> <span> 4375.0494741818 </span> </span> </span> -300
Total = <span>4075.05
</span>