So, 50/100 can be simplified to 1/2 (a half). Therefore, the decimal notation for 1/2 would be .5 (This is just one of many ways to solve this type of problem) Hope this helps, let me know if you need more help : )
Answer:
I'm going to edit this later, but do you have the full question?
I would say it would look something like this: 3k - 3 = g? That would be my best guess. I hope I helped & I'm so sorry if I'm wrong!
The amortization formua I'm familiar with assumes payments are made at the end of the period, so we'll use it for the part after the first payment has already been made.
.. A = 4,000
.. P = 500,000 -4000 = 496,000
.. i = 0.06
.. n = 12
.. t = to be determined
And the formula is
.. A = Pi/(n(1 -(1 +i/n)^(-nt))) . . . . . amortization formula with payments at the end of the period
.. 1 -(1 +i/n)^(-nt) = Pi/(An) . . . . . . rearrange to get "t" factor in numerator
.. 1 -Pi/(An) = (1 +i/n)^(-nt) . . . . . . get "t" factor by itself
.. log(1 -Pi/(An)) = -nt*log(1 +i/n) . . . . use logarithms to make the exponential equation into a linear equation
.. log(1 -Pi/(An))/(-n*log(1 +i/n)) = t . . . . divide by the coefficient of t
.. t = 16.1667 . . . . . years (after the first monthly withdrawal)
The plan will support withdrawals for 16 years and 3 months (195 payments).
2300*.065 = 149.5
149.5*10 = 1495
2300 + 1495 = $3795
