Witch ones are bigger. a. 5/9 or 11/18 b. 3/8 or 4/9
2 answers:
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The general Formula for a decreasing Annuity is:
For this example we have:
P = 78,000
n = 7*4 = 28
i = 8%/4 = 2% = 0.02
After substituting you can find value for R, rent.
For this example we have:
P = 78,000
n = 7*4 = 28
i = 8%/4 = 2% = 0.02
After substituting you can find value for R, rent.