Revision as of 00:55, 19 November 2023 by Admin (Created page with "'''Solution: C''' Each month the principal paid increases by 1.1<sup>1/12</sup>. Thus, the amount of principal paid increases to 500(1.1<sup>1/12</sup>)<sup>30-6</sup>=5001.1<sup>2</sup>=605. {{soacopyright | 2023 }}")
Exercise
ABy Admin
Nov 19'23
Answer
Solution: C
Each month the principal paid increases by 1.11/12. Thus, the amount of principal paid increases to 500(1.11/12)30-6=5001.12=605.
Copyright 2023 . The Society of Actuaries, Schaumburg, Illinois. Reproduced with permission.