Revision as of 15:33, 19 November 2023 by Admin (Created page with "'''Solution: A''' <math display="block"> \begin{aligned} & 1.0912=(1+j)^{12} \\ & j=0.0073 \\ & 100,000=P a_{\overline{180} | 0.0073} \\ & P=1000.02 \\ & O B_{59}=1000.02 a_{\overline{1210} | 0.0073} \\ & O B_{59}=80,174.59 \\ & 1.0576=(1+j)^{12} \\ & j=0.004678 \end{aligned} </math> Interest portion of first revised payment: <math display="block"> 80,174.59(0.004678)=375.04 \text {. } </math> {{soacopyright | 2023 }}")
Exercise
ABy Admin
Nov 19'23
Answer
Solution: A
[[math]]
\begin{aligned}
& 1.0912=(1+j)^{12} \\
& j=0.0073 \\
& 100,000=P a_{\overline{180} | 0.0073} \\
& P=1000.02 \\
& O B_{59}=1000.02 a_{\overline{1210} | 0.0073} \\
& O B_{59}=80,174.59 \\
& 1.0576=(1+j)^{12} \\
& j=0.004678
\end{aligned}
[[/math]]
Interest portion of first revised payment:
[[math]]
80,174.59(0.004678)=375.04 \text {. }
[[/math]]
Copyright 2023 . The Society of Actuaries, Schaumburg, Illinois. Reproduced with permission.