Friday

April 18, 2014

April 18, 2014

Posted by **LEILA** on Wednesday, September 22, 2010 at 1:46pm.

payment

- MATH -
**MathMate**, Wednesday, September 22, 2010 at 5:06pmUse the same formula as the other post:

For an annual payment P for n years at interest rate r, the value of the investment is

A=Pr^n+Pr^(n-1)+....Pr

=Pr(1+r+rē+...+rn-1)

=Pr(rn-1)/(r-1)

Here A=122000

n=22

r has not been supplied.

Solve for P.

Note: Please do not switch screen names. Doing so will cause loss of continuity.

**Related Questions**

MATH FINANCE - Find the monthly payments for an ordinary annuity that will ...

business math 205 - Calculate the future of the following Ordinary Annuities. ...

math - Suppose payments were made at the end of each month into an ordinary ...

math - Suppose payments were made at the end of each month into an ordinary ...

Finite Math - The amount (future value) of an ordinary annuity is given. Find ...

Calculus - A $99,000 mortgage for 30 years at 9% APR requires monthly payments ...

math - find the present value of ordinary annuity payments of 890 each year for ...

Finite Math - The amount (future value) of an ordinary annuity is given. Find ...

finance - A 5-year annuity of ten $4500 semiannual payments will begin 9 years ...

algebra - Suppose a retiree wants to buy an ordinary annuity that pays her $2,...