Revision as of 19:43, 18 November 2023 by Admin (Created page with "'''Solution: B''' Let j equal the quarterly rate and let k equal the four-year rate: <math display = "block"> \begin{aligned} & 300=\frac{1}{j}(1+j) \\ & j=\frac{1}{299} \\ & \left(1+\frac{1}{299}\right)^4=(1+k)^{\frac{1}{4}} \\ & k=0.054875 \\ & 300=\frac{X(1+k)}{k} \\ & X=15.61\end{aligned} </math> {{soacopyright | 2023 }}")
Exercise
ABy Admin
Nov 18'23
Answer
Solution: B
Let j equal the quarterly rate and let k equal the four-year rate:
[[math]]
\begin{aligned} & 300=\frac{1}{j}(1+j) \\ & j=\frac{1}{299} \\ & \left(1+\frac{1}{299}\right)^4=(1+k)^{\frac{1}{4}} \\ & k=0.054875 \\ & 300=\frac{X(1+k)}{k} \\ & X=15.61\end{aligned}
[[/math]]
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