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Unformatted text preview: 10,000,000 2.7182816941 50,000,000 2.7182818149 (1 + 1/ m ) m APPROXIMATION OF EULER'S CONSTANT Current value of all payments: $2,149 Rate: 6.25% i Payment Total Payments 1 0.994805 0.044441 $95.50 $2,292.07 $143.07 2 0.989637 3 0.984496 4 0.979382 5 0.974294 6 0.969233 7 0.964198 8 0.959189 9 0.954207 10 0.949250 11 0.944319 12 0.939413 13 0.934533 14 0.929678 15 0.924849 16 0.920044 17 0.915265 18 0.910510 eri /12 Extra Amount Paid We will evaluate the expression in Example 8 of the section Compound Interest which gives the amount of each monthly payment toward a computer. EVALUATING A SUM 1 24 1 12 / 149 , 2 $= ⋅ ⋅ = ∑ i i r e F 1 24 1 12 /= ⋅ ∑ i i r e 19 0.905780 20 0.901075 21 0.896394 22 0.891738 23 0.887105 24 0.882497...
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 Spring '08
 ekstrom
 Math, Annual Percentage Rate, Mathematical Association, Arizona Board o The University of Arizona

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