Hi,
I wonder if someone can answer this question for me please.
I am working with sinking fund annuities and trying to decide what to assign for 'n'. Here is what I have:
Sn=5000
i=18% compounded quarterly
R=? amt of one-time payment
n=??? so there is one payment at the end of the loan period which is 15 months.
I have no idea how to get n...
I believe it's either 1.25, 15, or 5.
I'm not sure how well I explained that so here is my example:
R= 5000
---------------------------
[(1+.19251860)[*15]-1]
----------------------------
.19251860
the * is of course representing n and can be either 1.25, 5, or 15...
Any help would be great!
Thanks
I wonder if someone can answer this question for me please.
I am working with sinking fund annuities and trying to decide what to assign for 'n'. Here is what I have:
Sn=5000
i=18% compounded quarterly
R=? amt of one-time payment
n=??? so there is one payment at the end of the loan period which is 15 months.
I have no idea how to get n...
I believe it's either 1.25, 15, or 5.
I'm not sure how well I explained that so here is my example:
R= 5000
---------------------------
[(1+.19251860)[*15]-1]
----------------------------
.19251860
the * is of course representing n and can be either 1.25, 5, or 15...
Any help would be great!
Thanks