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| rev | Admin | (Created page with "'''Solution: D''' SOLUTION 1: Interest rate is .04 per six months so <math>(1+j)^6=1.04</math>. Thus <math>j=.006558</math>. Then <math>220000=X a_{\overline{300} \mid j}</math> so <math>X=\frac{220000}{a_{\overline{300} \mid j}}=\frac{220000}{131.0276}=1679.04</math>. SOLUTION 2: Interest rate is <math>i=.04</math> for a period of 6 months. There are <math>25(2)=50</math> periods. <math>a_{\overline{50} |}^{(6)}</math> means <math>\mathrm{PV}</math> of payments of...") | Nov 27'23 at 0:31 | +1,253 |