Homework Help: Finite Math

Posted by Matt on Monday, February 18, 2013 at 11:23pm.

The amount (future value) of an ordinary annuity is given. Find the periodic payments.

A = $14,500, and the annuity earns 6% compounded monthly for 10 years.

Finite Math - Reiny, Tuesday, February 19, 2013 at 8:28am
P( (1+i)^n - 1)/i = amount

i = .06/12 = .005
n = 10(12) = 120

after all the others you did, I am sure you can take it from here.

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