annuity calculation problem


by darkmagic
Tags: annuity, calculation
darkmagic
darkmagic is offline
#1
Aug14-10, 11:07 PM
P: 164
1. The problem statement, all variables and given/known data

Please with me with this kind of problem.

You borrow money of P. Given that you paid a certain amount A for N years.
If P accumulates 5% for the first 8 years and 7% for the remaining 12 years.
What is P?

The values of A and N are given. I just want to know how to solve this
kind of problem
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