1. P = A[(1+i/m)^mn -1)] ÷ [(i)(1+i/m)^mn]
A = P5,000.00
i = 0.06%
m = 2
n = 10 years
substitute the values to the equation:
P = P74,387.37 (ans. A.)
2. F = P(1 + i/m)^mn
P = P74,387.37
F = P134,351.8724 (ans. D.)
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Answers & Comments
1. P = A[(1+i/m)^mn -1)] ÷ [(i)(1+i/m)^mn]
A = P5,000.00
i = 0.06%
m = 2
n = 10 years
substitute the values to the equation:
P = P74,387.37 (ans. A.)
2. F = P(1 + i/m)^mn
P = P74,387.37
i = 0.06%
m = 2
n = 10 years
substitute the values to the equation:
F = P134,351.8724 (ans. D.)