I'm trying to solve the following, but I'm doing something wrong in the calculations. PV = Pmt(1-(1 = i)^-n) / i 497.98(1 - (1 + .06)-60)/ .06 497.98(1 - ( - 58.94) / .06 497.98(59.94) / .06 497.98(999) ??
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Originally Posted by hansfordmc I'm trying to solve the following, but I'm doing something wrong in the calculations. PV = Pmt(1-(1 = i)^-n) / i 497.98(1 - (1 + .06)-60)/ .06 497.98(1 - ( - 58.94) / .06 i don't know how you got this. 497.98(59.94) / .06 497.98(999) ??
I can't figure out how you got that answer. Would you please break down the calculations. I'm plugging -1.06 ^-60 in the calculator and getting 59.94
Do the rest. I'm plugging -1.06 ^-60 in the calculator and getting 59.94 What calculator are you using? Do not use Window's default calculator in this purpose. Use a scientific calculator to calculate -1.06^-60 or simplify as shown.
gotcha - thanks
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