Finite Math
posted by Matt on .
The amount (future value) of an ordinary annuity is given. Find the periodic payments.
A = $2500, and the annuity earns 6.5% compounded annually for 4 years.

solve for P
P( 1.065^4  1)/.065 = 2500 
didn't get it right, the answer in the book is 567.26

I got 567.26
P( 1.065^4  1)/.065 = 2500
P( 1.286466351  1)/.065 = 2500
P(.286466...)/.065 = 2500
P(4.40717...) = 2500
P = 2500/4.40717.. = 567.256 
yeah you are right i just plug it in wrong , thanks soooo much!