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| revprev | Admin | Nov 26'23 at 23:45 | +19 | m | |
| revcur | Admin | (Created page with "Both <math>n</math> and <math>L</math> are unknown <math>500\left(1-v^{2 n}\right)+500\left(1-v^n\right)=720</math> (check formulas in the amortization table). So <math>-500 v^{2 n}-500 v^n+280=0</math>. This is a quadratic in <math>v^n</math> so from the quadratic formula, <math>v^n=.4</math> (the other root is negative). We want the amount of interest paid in year 10 , namely <math>500\left(1-v^{2 n-9}\right)</math>. Also <math>v^9=\frac{1}{1.0494^9}=.64793</math>. He...") | Nov 26'23 at 23:44 | +876 |