Logarithms Question
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An ordinary annuity is an account in which you make a fixed deposit at the end of each compounding period. You want to use an annuity to help you save money for college. The formula t=ln(Sr+PnPn)nln(n+rn) gives the time t (in years) required to have S dollars in the annuity if your periodic payments P (in dollars) are made n times a year and the annual interest rate is r (in decimal form). t=ln[(Sr+Pn)-(Pn)-(n+r)n-nn] is the expansion of the formula.
- True
- False