Revision as of 13:33, 19 November 2023 by Admin (Created page with "'''Solution: B''' Let <math>j</math> be the monthly interest rate. <math display = "block"> \begin{aligned} & 50,000(1+j)-800=49,800 \\ & j=0.012 \\ & 50,000=800 a_{n \mid 0.012} \\ & n=116.22 \end{aligned} </math> Drop payment at payment number 117. {{soacopyright | 2023 }}")
Exercise
ABy Admin
Nov 19'23
Answer
Solution: B
Let [math]j[/math] be the monthly interest rate.
[[math]]
\begin{aligned}
& 50,000(1+j)-800=49,800 \\
& j=0.012 \\
& 50,000=800 a_{n \mid 0.012} \\
& n=116.22
\end{aligned}
[[/math]]
Drop payment at payment number 117.
Copyright 2023 . The Society of Actuaries, Schaumburg, Illinois. Reproduced with permission.