Revision as of 10:32, 22 November 2023 by Admin (Created page with "'''Solution: E''' Payment= 960 +340=1300 Principal repaid grows by 1.04 with every payment. Principal in 14th payment is: 340(1.04)<sup>8</sup>= 465.31 Interest Paid: 1300 – 465.31= 834.69 {{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 = Study Questions for Actuarial Exam 2/FM| access-date=November 20, 2023}}")
Exercise
ABy Admin
Nov 22'23
Answer
Solution: E
Payment= 960 +340=1300
Principal repaid grows by 1.04 with every payment.
Principal in 14th payment is:
340(1.04)8= 465.31
Interest Paid:
1300 – 465.31= 834.69
Hardiek, Aaron (June 2010). "Study Questions for Actuarial Exam 2/FM". digitalcommons.calpoly.edu. Retrieved November 20, 2023.