Posted by Matt on .
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 -
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.