Hi Everyone
Sorry if this is posted in the wrong section, but I have this equation I am battling to solve.
Here it is:
183997272.140609=SUM((X/PI())/SQRT(9)/16)
I have no clue. Does anyone have any idea?
Sorry I was probably not as clear as I should have been. The original question was where would a student with a mark of 73 place among the 18 students? As in what number out of the 18 students
I'm not sure if there is insufficient information or I may possibly overlooking something.
But here goes...
Students have been put in a range of percentages according to their marks obtained in Statistics.
1 student in 85-90
1 student in 80-84
5 students in 75-79
11 students in 70-74
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So do you get the value of Payment 30 and then use the new growth rate to get payment 35?
Such as 2000(1+0.07)^29 = $14,228.51
Then, 14228.51(1+0.11)^4 = $21,599.89
I get $ 1373241.69. If the initial question was changed so that it was asked what is the future value of the last 15 annual payments at the end of the period of 45 years? Would you compound the annuity or just calculate the annuity for the last 15 payments?
So in effect 2000(1+0.07)^20= 7739.37
But, the interest rate would change from 0.10 to 0.14 because of the initial question?
Then, 7739.37[[(1+0.14)^10-(1+0.07)^10]/0.14-0.07]
My next question relates to the future value of the 10 annual payments that are received from the end of Year 21 until the end of Year 30 at the end of the period of 45 years?
Do you use PMT=2000, or do you have to apply the growth rate first?