Somebody Help!
$7,500 = C/1.15 + C/1.15^2 Solving this yields that C = $4,613.37 each year.
Where are they getting the $4,613.37 from? This does not make sense to me because if you plug in $4,613.37 and solve the equation it does not yield $7,500. Is this just a typo in my book?
No, this seems to be correct.
Solving, 7500 = C(1/1.15+1/1.15^2) -> C = 7500/(1/1.15 + 1/1.15^2) -> C = 7500/1.6257 -> 4613.37.
And indeed, if you plug that back into the equation, 4613.37/1.15 + 4613.37/1.15^2 = 7500.
All good!
what 'sthat ?
Fugit labore temporibus accusantium repellendus fugiat nesciunt. Fugiat omnis illo non vel molestias dolorem dolorem repudiandae. Quam aliquid nobis amet voluptatem quia. Voluptatem architecto sit totam. Temporibus quia perspiciatis libero quasi rerum unde illo dolorum. Nihil minus sapiente aut eum.
Dolores minus fugiat perspiciatis culpa. Omnis in quas perspiciatis fugit.
Nemo distinctio molestiae iure voluptatem illo. Hic quam necessitatibus voluptas ut qui. Repudiandae exercitationem provident voluptatum ullam quisquam quia vel. Aperiam quam voluptate enim reprehenderit saepe quia. Est quae rerum maiores aut eos voluptate nesciunt.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...