maths

2012-04-07 6:53 pm
Angela invests $P at the beginning of each month in a year at an interest rate of 4% per annum, compounded monthly . If she gets $50 000 at the end of the year,find P correct to 1 decimal place.
(ans:$4077.2)

回答 (2)

2012-04-07 7:45 pm
✔ 最佳答案
I don't know what level you are ,I give two method to you.
1+4/12%=301/300
12
Σ (301/300)^i =([(301/300)^(12+1) - 1] / [(301/300) -1])-1
i=1 =[(301/300)^13 - 1]*300-1
P*([(301/300)^13 - 1]*300 - 1)=50000
By calculator:
P= 4077.2(corr. to 1d.p.)

Second Method:
P*(1+4/12%)^12+P*(1+4/12%)^11+...+P*(1+4/12%)^1=50000
P*[(1+4/12%)^12+(1+4/12%)^11+....(1+4/12%)]=50000
P=4077.2(corr.to 1d.p.)
2012-04-12 2:35 am
P*(1+4/12%)^12+P*(1+4/12%)^11+...+P*(1+4/12%)^1=50000
P*[(1+4/12%)^12+(1+4/12%)^11+....(1+4/12%)]=50000
P=4077.2(corr.to 1decimal place)
Hope I can help you ^v^


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