Hi all!
My math problem is about a Finance class, but it is really the math that gets me into trouble. Please see the equation:
(15/(1+r))+(10/(1+r)^2)+(8/(1+r)^3)-25=(2.5/(1+r))+(2.5/(1+r)^2)+(2.5/(1+r)^3)
I guess the first step would be to get it all to one side of the equation. In particular, I am wondering what to do with the denominators. Can I add them up?
Please note I'm only allowed to use a basic (i.e. non-graphic) calculator.
Thank you!
Sebastiaan
Something I should have mentioned in the last post: .
Nope, you can't raise both sides to the power. To use an example: . If you multiply both sides of your equation by the LCD you will clear the denominator making the equation easier to solve.
Do you know what the LCD of is? Hint: 1+r and (1+r)^2 are both factors of (1+r)^3