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Derivation of TVM Formulas

In Chapters 10 and 11 of Math for Business and Life we use compound interest formulas to solve time-value-of-money problems. The formulas are shown in Illustration 10-1. You may wonder where the formulas came from. Well, actually there is some logic involved in the creation of the formulas. If you are interested in seeing the derivation of the formulas, please e-mail us at: