Respuesta :

MissPhiladelphia
Given:
n = 9 months
i = 12%
A (monthly payments) = 300
Assume an ordinary annuity.

Required: P

Solution:
F = A {[(1+i)^n] - 1 / i}
F = 300 {[(1.12)^9 - 1 / 0.12}
F = 4,432.7