Why does n=48, look below
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Why does n=48, look below

[From: ] [author: ] [Date: 12-01-01] [Hit: ]
is in the link, along with explanations.......
PV=$9,000; i=0.05; PMT=$500; n=48

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Your figures are approximate:

500(1-1.05^-48)/0.05 = 9039

Not sure why you are asking this in Physics, but the equation relating
PV (present value)
PMT (periodic payment amount)
i (fractional interest rate) and
n (number of compounding periods)
is in the link, along with explanations.
1
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