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counting the number of payments

July 10th, 2009

Lots of students have trouble counting the number of payments. I recently answered this question for a student. Here is what I wrote:

What if I told you there was a payment at times 1, 2 and 3. How many payments is that? 3 of course, but what we really did (3-0)/1 = 3. So if there are payments at times 3, 6, 9, and 12 then we have (12 – 0) / 3 = 4 payments. If we have payments at times 20, 25, 30, 35, and 40 then we have (40 – 15) / 5 = 5 payments. If we have payments at times 22, 28, 34, …, 112 then we have (112 – 16) / 6 = 16 payments.

James Student Questions

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