In Math for Business and Life we solve time-value-of-money problems with several different methods. One of the methods is with compound interest formulas. As you may recall, there is no compound interest formula that will calculate i when a periodic payment is involved; for these problems, we can use the Guess and Check Method, explained briefly in Unit 11.4 of the text.
If you are using Math for Business and Life and would like to see more examples of the Guess and Check Method, please e-mail us.
If you are a student, e-mail us at:
If you are an instructor, e-mail us at:
- by Olympus Publishing Company. All Rights Reserved.
All content and graphics on this web site are the property of Olympus Publishing Company.