Closed Compound Interest

[Syenderr]

Hello. Pwede po ba pahelp sa mga marunong sa accounting jan ? Di kasi ako sure sa sagot ko haha

A loan of P100 701.3 is to be ρáíd by 10-end year payments. The first payment begins at the end of the 10th year. Find the yearly payment if rate of interest is 8% compounded yearly.

Thanks po sa makakatulong !

 

[supernoy]

F=P(1+i)^n
F=100,701.3 * (1+.08)^10
F=217,406.55
yearly payment = 217,406.66/10 = 21,740.66

 

[-Kirito-]

Ayun nag advance math na si Master.haha

 

[Syenderr]

thanks po, kaso parang mali haha

 

[-Kirito-]

mali nga kulang ang formula.
F=P[(1+i)^n - 1]
116705.2538/10
11670.52538

 

[supernoy]

bakit may -1?