Revision as of 21:44, 29 November 2023 by Admin (Created page with "'''Solution: C''' The time diagram is {| class="table table-borderless" |- | Time || 0 || 1 || 2 || 3 || 4 || 5 |- | Deposit || || 1000 || 1000 || 1000 ||1000 || 1000 |- | CumDeposit || || 1000 || 2000 || 3000 || 4000 || 5000 |- | Interest || || || 100 || 200 ||300 ||400 |} Hence the accumulated amount is <math display="block"> 5000+100(I s)_{\overline{4} \mid .08}=5000+100 \frac{\ddot{s}_{\overline{4} \mid .08}-4}{.08}=5000+100 \frac{4.866601-4}{.08}=6083.25 </math>...")
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Exercise

AAdmin
Nov 29'23

Answer

Solution: C The time diagram is

Time 0 1 2 3 4 5
Deposit 1000 1000 1000 1000 1000
CumDeposit 1000 2000 3000 4000 5000
Interest 100 200 300 400

Hence the accumulated amount is

[[math]] 5000+100(I s)_{\overline{4} \mid .08}=5000+100 \frac{\ddot{s}_{\overline{4} \mid .08}-4}{.08}=5000+100 \frac{4.866601-4}{.08}=6083.25 [[/math]]

References

Hlynka, Myron. "University of Windsor Old Tests 62-392 Theory of Interest". web2.uwindsor.ca. Retrieved November 23, 2023.

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