Mary has 14,000 in an account on January 1, 1995. (a) Assuming compound interest at 12%) per

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Mary has 14,000 in an account on January 1, 1995.

(a) Assuming compound interest at 12%) per year, find the present value on January 1, 1989.

(b) Assuming compound discount at 12% per year, find the present value on January 1, 1989.

(c) Explain the relative magnitude of your answers to parts (a)

and (b).

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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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Mary has 14,000 in an account on January 1, 1995. (a) Assuming compound interest at 12%) per

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

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