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Math Help - How do I extract j from, B = A.(1 + j)^N + (P/j).[(1 + j)^N - 1]?

  1. #1
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    How do I extract j from, B = A.(1 + j)^N + (P/j).[(1 + j)^N - 1]?

    How do I extract j from, B = A.(1 + j)^N + (P/j).[(1 + j)^N - 1]?
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    MHF Contributor Siron's Avatar
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    Re: How do I extract j from, B = A.(1 + j)^N + (P/j).[(1 + j)^N - 1]?

    I think it can be useful to use a math program to calculate that for you.
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    Re: How do I extract j from, B = A.(1 + j)^N + (P/j).[(1 + j)^N - 1]?

    i don't have any. i tried online using wolframaplha but it didn't help...it's really difficult to extract j.. hope someone can show a solution...
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    Re: How do I extract j from, B = A.(1 + j)^N + (P/j).[(1 + j)^N - 1]?

    made a bad error... sorry!
    Last edited by fallingleaves75; August 20th 2011 at 12:47 AM.
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    MHF Contributor Siron's Avatar
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    Re: How do I extract j from, B = A.(1 + j)^N + (P/j).[(1 + j)^N - 1]?

    Quote Originally Posted by prinzrainer View Post
    i don't have any. i tried online using wolframaplha but it didn't help...it's really difficult to extract j.. hope someone can show a solution...
    Yes, I also tried wolphram alpha but that didn't help, but I'm not sure if this can be done without a math program.
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    Re: How do I extract j from, B = A.(1 + j)^N + (P/j).[(1 + j)^N - 1]?

    Quote Originally Posted by prinzrainer View Post
    How do I extract j from, B = A.(1 + j)^N + (P/j).[(1 + j)^N - 1]?
    This is the formula to calculate the Future value of (usually) a savings account
    with an initial Amount deposited, then regular (usually) monthly Payments (deposits).

    The standard way to show is: F = A(1 + i)^n + (P / i)[(1 + i)^n - 1] , where:
    F = Future value, A = initial Amount deposited, P = regular Payment,
    n = Number of regular payments, i = periodic Interest rate.

    As example, $1000 deposited initially, then $100 per month for 36 months at annual
    rate of 6% compounded monthly ( i becomes .06/12 = .005):
    F = 1000(1.005)^36 + (100 / .005)(1.005^36 - 1) = 5130.29102....

    It is not possible to solve for i directly; must be done numerically.
    If you google "iteration", you'll get an idea of what's involved.
    It really becomes "guessing", then "homing in" until you hit paydirt!
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