radnorgardens
New member
- Joined
- Dec 2, 2014
- Messages
- 26
Morning/afternoon/evening all,
I'm aware of the formula: a(rn-1/r-1).
However, for the following:
100(1.01)(1.01n-1/1.01-1)
Apparently (Mathematics for Economics and Business - Ian Jacques), this is the same as:
10,100(1.01n-1)
Is that correct? I can't find out how to get to this.
Your help is always appreciated.
I'm aware of the formula: a(rn-1/r-1).
However, for the following:
100(1.01)(1.01n-1/1.01-1)
Apparently (Mathematics for Economics and Business - Ian Jacques), this is the same as:
10,100(1.01n-1)
Is that correct? I can't find out how to get to this.
Your help is always appreciated.