When using an effective interest rate i it is known that the present value of $2000 at the end of each year for 2n years plus an additional $1000 at the end of each year for n years is $52,800. Find i.
I have it set up initially as
2000a_angle_2n + 1000a_angle_n=52,800 then using the formula a_angle_2n=a_angle_n + (V^n)*a_angle_n broke it down to
2000(a_angle_n + (V^n)*a_angle_n) + 1000a_angle_n= 52800
How would i go about solving for i from here?
I have it set up initially as
2000a_angle_2n + 1000a_angle_n=52,800 then using the formula a_angle_2n=a_angle_n + (V^n)*a_angle_n broke it down to
2000(a_angle_n + (V^n)*a_angle_n) + 1000a_angle_n= 52800
How would i go about solving for i from here?