1. ## 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

2. ## 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?

3. ## Re: Solve for x

How to use latex?

4. ## Re: Solve for x

Originally Posted by joshuaa
How to use latex?
LaTeX Help

5. ## Re: Solve for x

Originally Posted by joshuaa
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40 per month can be withdrawn, leaving 1000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

thankS