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April 21, 2014

April 21, 2014

Posted by **Thara** on Friday, July 31, 2009 at 12:53am.

Let the amount of each payment be represented by x.

P1=

______x__________=0.9904349x

1 + 0.01175(30/365)

P2=

_______x__________=0.9718432x

1 + 0.01175(90/365)

P3=

_______x__________=0.9539366x

1 + 0.01175(150/365)

$4000= P1 + P2 + P3

= 0.9904349x + 0.9718432x

+ 0.9539366x

=2.916215x

x= ___$4000___

2.916215

x= $1371.64

Therefore, each payment should be $1371.64.

My question is how do i get the answer in P1=0.9904349x, P2=0.9718432x, and

P3=0.9539366x. Just show me for one of them then i can understand how to do it for the rest. Thanks.

- Simple Interest -
**MathMate**, Friday, July 31, 2009 at 7:10amTo directly answer your question, the values are:

x/(1 + 0.1175(30/365))

=x*(1/[1+0.1175(30/365)]

=x*(1/1.009657534246579)

=0.99043484159826x

You could not reproduce the answer because the expression was incorrect. The 0.1175 had been transcribed as 0.01175.

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