mitchy_boy
blue
my teacher gave me this question, and I can't do it. Don't laugh.
ok so say you have $500,000 in capital and you invest it at 3%p.a. and each year $30,000 is deducted. how long will it take for the original amount to reduce to $200,000? i was trying to rework the A=P(1+i)^n formula by putting a -30,000n into it but it doesn't seem to be working.
if u could show working that would be awsome
ok so say you have $500,000 in capital and you invest it at 3%p.a. and each year $30,000 is deducted. how long will it take for the original amount to reduce to $200,000? i was trying to rework the A=P(1+i)^n formula by putting a -30,000n into it but it doesn't seem to be working.
if u could show working that would be awsome