- #1
cs23
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- 0
Homework Statement
solve for i
4100=100{[(1+i)^22 - 1]/i(1+i)^22} + 5000[1/(1+i)^22]
Homework Equations
The Attempt at a Solution
4100=100{/ i} + 5000[1/(1+i)^22]
4100= 100+5000[1/i + 1/(1+i)^22]
4100=5100[1/(1+ i)^23]
0.803=[1/(1+ i)^23]
(1+ i)^23= 1/0.803=1.24
i= 23 sqrt(1.24) -1