Section 3g #6 (ASM 11th edition)

Given:

i) PV of annuity-immediate w/ annual payment of 1 for n years is 40

ii)PV of annuity-immediate w/ annual payment of 1 for 3n years is 70.



My work:

dividing ii) by i) yields 1.75=(1+v^n+v^2n)

put into quadratic form yields v^2n+v^n-.75=0

Solving sets v^n=.5 therefore i=.0125.



Next the problem asks to calculate the AV of annuity-immediate with annual payments of 1 for 2n years.



S(box 2n)=(1.0125)^2n-1/.0125



I tried to solve for n using my TI BA II Plus for the first part of the problem but that isn't working.



How do I finish solving this problem?



Thanks in advance for help.

Section 3g #6 (ASM 11th edition)