Diff selection: Mark the radio buttons of the revisions to compare and hit enter or the button at the bottom.
Legend: (cur) = difference with latest revision, (prev) = difference with preceding revision, m = minor edit.
Legend: (cur) = difference with latest revision, (prev) = difference with preceding revision, m = minor edit.
| rev | Admin | (Created page with "'''Solution: A''' Let K be the amount that Bank B paid. Equating the amount borrowed (the 16 payments discounted at 7%) to the actual payments received (using the 6% yield rate) gives the equation <math display="block"> 1000 a_{\overline{1677 \%}}=1000 a_{\overline{8} | 6 \%}+\frac{K}{1.06^8} . </math> Then, <math display="block"> \begin{aligned} K & =1000\left(a_{\overline{16} |7 \%}-a_{\overline{8} \mid 6 \%}\right) 1.06^8 \\ & =1000(9.44665-6.20979) 1.06^8 \\ &...") | Nov 19'23 at 15:10 | +551 |