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April 7th, 2014, 11:53 AM   #11
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Thank you for taking the time to write that out, agentredlum! Even though I don't know much about factoring, after all of the wonderful answers that people have given me here I think I know enough to say that I understand how that problem works. At first I found the problem in the book vaguely irritating, but looking at it now, seeing the expanded simplified version next to the expression as it's written in the book, I'm amazed. I mean, if you actually went and tried to do the problem using the expanded simplified version I'm pretty sure you'd be sitting in the same spot all week. I can't believe that the original expression has compacted all of that work into such a small space.
Thanks from MarkFL and agentredlum
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April 8th, 2014, 04:43 PM   #12
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Remember that (1 + i)^n is really 1(1 + i)^n,
thus gives future value of 1 dollar.

The multiplication by the actual Amount : A(1 + i)^n
then finalizes the calculation...
Denis is offline  
April 9th, 2014, 11:06 AM   #13
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Thank you for mentioning that, Denis!
FrancesKatherine is offline  

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