Revision as of 00:01, 22 November 2023 by Admin (Created page with "'''Solution: C''' Initial deposit: 6,000 Withdrawals: 2,000 at the end of 7, 14, 21 Interest rate = .06 penalty = .04 Accumulated value = 6,000(1.06)<sup>23</sup> – 2,000(1.04)(1.06)<sup>16</sup> - 2,000(1.04)(1.06)<sup>9</sup> - 2,000(1.04)(1.06)<sup>2</sup> =$11,783.36 {{cite web |url=https://digitalcommons.calpoly.edu/cgi/viewcontent.cgi?article=1008&context=statsp |last=Hardiek |first=Aaron |date=June 2010 |website=digitalcommons.calpoly.edu | title = Stud...")
Exercise
ABy Admin
Nov 22'23
Answer
Solution: C
Initial deposit: 6,000
Withdrawals: 2,000 at the end of 7, 14, 21
Interest rate = .06
penalty = .04
Accumulated value = 6,000(1.06)23 – 2,000(1.04)(1.06)16 - 2,000(1.04)(1.06)9 - 2,000(1.04)(1.06)2 =$11,783.36
Hardiek, Aaron (June 2010). "Study Questions for Actuarial Exam 2/FM". digitalcommons.calpoly.edu. Retrieved November 20, 2023.