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Thread: Solve for x

  1. #1
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    Solve for x

    Is there a way to find the values of x?

    1276.76 = (40/x)(1 - [ 1 / (1 + x)^60 ]) + 1000/(1 + x)^60
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  2. #2
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    Re: Solve for x

    I'm not going to say there is no way to solve this equation by hand, but I would be quick to grab my calculator.

    btw ... when are you going to start posting up using LaTeX?
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  3. #3
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    Re: Solve for x

    How to use latex?
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  4. #4
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    Re: Solve for x

    Quote Originally Posted by joshuaa View Post
    How to use latex?
    LaTeX Help
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  5. #5
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    Re: Solve for x

    Quote Originally Posted by joshuaa View Post
    Is there a way to find the values of x?
    1276.76 = (40/x)(1 - [ 1 / (1 + x)^60 ]) + 1000/(1 + x)^60
    x cannot be solved directly: numeric method required.

    For above, you'll find that x = .03,
    which means 3% PER MONTH.

    Represents the amount required to be invested
    at 36% APR compounded monthly, such that
    40 per month can be withdrawn, leaving 1000
    at end of 60th month.

    Looks like this:
    Code:
    MONTH  PAYMENT  INTEREST   BALANCE
       0                       1276.76
       1    -40.00     38.30   1275.05
       2    -40.00     38.26   1273.31
    ....
      59    -40.00     30.57   1009.71
      60    -40.00     30.29   1000.00
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  6. #6
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    Re: Solve for x

    thankS
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