Question: Can you break this solution down more? I am struggling with the two F variables P = C(1- (1+i)^-N))/i + M (1+ i)^-N 1100 =
Can you break this solution down more?
I am struggling with the two F variables
P = C(1- (1+i)^-N))/i + M (1+ i)^-N
1100 = 0.10*F( 1 - (1+ 0.08)^-8)/ 0.08 + F(1 + 0.08)^-8
F = 1100/( 0.10*(1-(1.08)^ -8)/ 0.08 + 1.1^-8)
= $ 1056.50
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