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October 20, 2014

October 20, 2014

Posted by **Nicole E** on Monday, February 7, 2011 at 10:45pm.

- math -
**tchrwill**, Tuesday, February 8, 2011 at 10:47amFrom S(n) = R[(1+i)^n - 1]/i where R = the periodic payment, n = the number of periods, i = the periodic interest in decimal form and S(n) = the accumulated sum, you have S(n) = $55,000, n = 10(12) = 120 and i = 6/(100(12)) = .005.

Solve for R

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