Photo Credit: Cal McIntyre
[ M = P \times \fracr(1+r)^n(1+r)^n - 1 ]
Now solve for such that:
[ 149,000 = \sum_k=1^360 \frac635.41(1+i)^k ]
= ( 150,000 - 1,000 = 149,000 ) €
[ M = P \times \fracr(1+r)^n(1+r)^n - 1 ]
Now solve for such that:
[ 149,000 = \sum_k=1^360 \frac635.41(1+i)^k ]
= ( 150,000 - 1,000 = 149,000 ) €