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September 23, 2014

September 23, 2014

Posted by **Thara!** on Wednesday, April 21, 2010 at 9:29pm.

I'm not sure how to get the answer for this question which is:

$8649.11

- math help plz! -
**Reiny**, Wednesday, April 21, 2010 at 9:39pmJust use the standard annuity formula

amount = payment ((1+i)^n - 1)/i

= 300( (1 + .06/12)^27 - 1)/.=(.06/12)

= 300 ( 1.005^12 - 1)/.005

= 300(28.83037)

= 8649.11

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