Homework SoursePV 13000 I0025 PMT 650 n PV 13000 I0025 PMT 650 n PV 13000 I
PV= 13000, I=0.025, PMT= 650 n=?
PV= 13000, I=0.025, PMT= 650 n=?
PV= 13000, I=0.025, PMT= 650 n=?
Solution
PV = PMT[1 - (1+r)^-n]/r
13000 = 650[ (1 - ( 1+0.025)^-n]/0.025
0.5 = 1 - ( 1+0.025)^-n
( 1+0.025)^-n = 0.5
1.025^-n = 0.5
Take natura log on both sides:
-n*ln(1.025) = ln(0.5)
n = 28.07 = 28.1
![PV= 13000, I=0.025, PMT= 650 n=? PV= 13000, I=0.025, PMT= 650 n=? PV= 13000, I=0.025, PMT= 650 n=?SolutionPV = PMT[1 - (1+r)^-n]/r 13000 = 650[ (1 - ( 1+0.025)](/WebImages/38/pv-13000-i0025-pmt-650-n-pv-13000-i0025-pmt-650-n-pv-13000-i-1114823-1761591940-0.webp "PV= 13000, I=0.025, PMT= 650 n=? PV= 13000, I=0.025, PMT= 650 n=? PV= 13000, I=0.025, PMT= 650 n=?SolutionPV = PMT[1 - (1+r)^-n]/r 13000 = 650[ (1 - ( 1+0.025)")
