Revision as of 01:05, 27 November 2023 by Admin (Created page with "'''Solution: A''' <math>\begin{aligned} & \text { Total Interest } 1=X(1.08)^{10}-X=X\left(1.08^{10}-1\right)=1.158925 X \\ & \text { Total Interest } 2=\frac{X}{a_{\overline{10}}}\left(10-a_{\overline{10 \mid}}\right)=0.4902949 X \\ & 468.05=1.158925 X-0.4902949 X=0.6686301 X \text { so } X=700.01\end{aligned}</math> '''References''' {{cite web |url=https://web2.uwindsor.ca/math/hlynka/392oldtests.html |last=Hlynka |first=Myron |website=web2.uwindsor.ca | title = Uni...")
Exercise
ABy Admin
Nov 27'23
Answer
Solution: A
[math]\begin{aligned} & \text { Total Interest } 1=X(1.08)^{10}-X=X\left(1.08^{10}-1\right)=1.158925 X \\ & \text { Total Interest } 2=\frac{X}{a_{\overline{10}}}\left(10-a_{\overline{10 \mid}}\right)=0.4902949 X \\ & 468.05=1.158925 X-0.4902949 X=0.6686301 X \text { so } X=700.01\end{aligned}[/math]
References
Hlynka, Myron. "University of Windsor Old Tests 62-392 Theory of Interest". web2.uwindsor.ca. Retrieved November 23, 2023.