well,
1 - 1.03^-20 / 0.03 = -17.455
Something tells me you want
(1 - 1.03^-20) / 0.03 = 14.87747
Now P is easy to figure.
I'm trying to work on this practice question But got confuse on this question:
find the value of P = Q ( 1 - 1.03^-20 / 0.03)
where Q is 1000 to the nearest whole number?
Thank you =)
2 answers
so, 1000 (14.87747) = 14876.6 ?