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April 19, 2014

April 19, 2014

Posted by **Howard** on Monday, May 7, 2012 at 8:25pm.

- Math, HELP! -
**Reiny**, Monday, May 7, 2012 at 8:43pm50 weeks in a year ???

mmmhhhh?

anyway I will go with that.

n = 30x50 = 1500

i = .06/50 = .0012

deposit = x

x( 1.0012^1500 - 1)/.0012 = 250000

you do the button-pushing

(I got $59.49 )

check by estimating:

payment appr. 240 a month monthly rate = .06/12 = .005

amount after 30 yrs

= 240(1.005^360 - 1)/.005

= appr $241 000

my answer is plausable.

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