I am having trouble with the following problem:
What will be the value of an annuity in today's dollars if $1000 is to be deposited for 18 years into an account paying 4.5% interest compounded annually?
I used the following formula (I'm guessing I've figured something incorrectly)
A=...
I am working with problems which are taking a toll on me.
1st and 3rd partial sums of the sequence An=(-2)^n+5
----I don't even know what formula to use to start this problem
and sum of hte geometric series:
2/3 - 4/9 + 8/27 - ...
I think I use this formula for this one: S=A1/1-r...
Not exactly sure what I am saying. I am not having trouble with any other methods,
i.e. Cramer Method, Gaussian, elementary row operations. This one has me truly stumped. Maybe I'm too tied (or old) to grasp it today.