Question

If M = Pm(1+m)na/((1+m)na –1) and m = 0.006, P = $2,000, n = 2 years, and a = 12, find M.
A. 75.24
B. 89.73
C. 95.24
D. 99.73

Answer 1

just replace m with (0.006) P with (2000), n with (2), and a with (12) then solve the problem

Answer 2

i get the answer of B am i correct

Answer 3

should look like this \[M=\frac{ (2000)(0.006)(2)(12) }{ ((1+0.006)(2)(12)-1) }\]

Answer 4

THAnks you is B

Answer 5

i missed the (1+m) in the numerator so it should be (1.006)

Answer 6

YEAH HAHAH thank you