A loan of 1000 is to be repaid by the sinking fund method over 10 years. The

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A loan of 1000 is to be repaid by the sinking fund method over 10 years. The rates of interest on the loan and the sinking fund are /

and /', respectively. The borrower's total payment each year is 125.

(a) If/ = /',fmd/.

(b) What is the maximum possible value for /?

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Theory Of Interest And Life Contingencies With Pension Applications A Problem Solving Approach

ISBN: 978-1566983334

3rd Edition

Authors: Asa Michael M. Parmenter, Ph.d.

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Question Posted: Sep 19, 2024 05:02 AM

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A loan of 1000 is to be repaid by the sinking fund method over 10 years. The

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Theory Of Interest And Life Contingencies With Pension Applications A Problem Solving Approach

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