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first principle

M

mansi bafna

Member
i am a bit confused with the concept of "first principle". can anybody please help?
 
mansi bafna said:
i am a bit confused with the concept of "first principle". can anybody please help?
Click to expand...


First Principle- the principle from where the formulae comes. This is the basic and simplest form of the formula

E.g Present value of annuity certain paid 1 yearly in arrear for n years is represented as - an -solving this leads to the solution.

now by the first pinciple, instead of doing above, we can use
(1+i)^-1+(1+i)^-2+...+(1+i)^-n
 
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