# 20000 [.045/(1.045)^15-1]

Asked By Brenda On 03/21/2017 18:16

## Answers

It looks like an actuarial math to me and I would say with this set up, you are looking for the payment. But with your post, I just assumed you wanted this to be calculated.
let's start with the inside of the parenthesis.
[0.045/(1.045)^15-1] = [0.045/(1.045)^14) --> subtracting the power 15 - 1 = 14
[0.045/(1.045)^14) = (0.045/1.8519) --> calculating the denominator
(0.045/1.8519) = 0.024299 --> finishing the parenthesis
Therefore, 20000 * 0.024299 = 485.98

Answered On 03/21/2017 23:04

Answered On 03/21/2017 23:04

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