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| rev | Admin | (Created page with "'''Answer: E''' <math>i^{(4)}=0.08</math> means an interest rate of <math>j=0.02</math> per quarter. This problem can be done with two quarterly recursions or a single calculation. Using two recursions: <math>{ }_{10.75} V=\frac{\left[{ }_{10.5} V+60(1-0.1)\right](1.02)-\frac{800-706}{800}(1000)}{\frac{706}{800}}</math> <math>753.72=\frac{\left[{ }_{10.5} V+54\right](1.02)-117.50}{0.8825} \Rightarrow_{10.5} V=713.31</math> <math>{ }_{10.5} V=\frac{\left[{ }_{10.25}...") | Jan 20'24 at 2:41 | +1,112 |