I've come across this illustration in my Kaplan study text.
4m x 1/1.05 20* = 1,507,558.
I haven't got the slightest clue how to key that formula into a calculator.
Can you break it down for me?
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1/(1+r)n dismantling/interest calculation
7y ago#1You are best to do the 1.05 to the power of 20, using the ^ button on your calculator of x to the power y.
Do 1 divided by your answer and then multiply this answer by 4m.
Hope that clears it up.
Thanks
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