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#1
10-24-2007, 02:09 PM
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Why did I solve wrong?
Qustion:
http://www.math.ilstu.edu/krzysio/KO-FM-Exercise129.pdf I tried to solve it with decreased annuity formula directly : 50000=(p-20*300)*a 20l -300*(a 20l -20v^200)/0.02 at i=0.02 But I got p=17710.8 Could anyone tell me what I did wrong? Thanks so much! Last edited by twink; 10-24-2007 at 02:50 PM.. 
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#2
10-24-2007, 04:47 PM
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Why don't you show all your work? Then maybe it will be clearer what you did wrong. The formula looks OK.
Maybe you did 20*300 = 12,000 or instead of doing 20*300 did 40*300, since your answer is off by 6,000.
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