The original amount of an inheritance was just sufficient at 8% effective to pay 5000 at the
Question:
The original amount of an inheritance was just sufficient at 8%
effective to pay 5000 at the end of each year for 10 years. The payments of 5000 were made for the first 5 years even though the fund actually earned 10% effective. How much excess interest was in the fund at the end of 5 years?
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Related Book For 
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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