Question
If the uniform-series compound-amount factor for i = 5.5 % annum is 26.9978. Find the value of n and the uniform-series present worth factor for
If the uniform-series compound-amount factor for i = 5.5 % annum is 26.9978. Find the value of n and the uniform-series present worth factor for the same values of i and n.
ans:
17 Years
Present Worth Factor = 10.8646
Starting with $1000 what is the difference in the sum of capital plus interest at the enc of 5 years for 8 % interest compound annually and 8 % simple interest?
ans:$69.00
If $6000 is deposited into a fund at the end of each year starting in year 1 and continuing to year 15. The annual compound interest is 6%. What will the fund value be after 15 years?
ans: $139,656
please provide worked out solutions, i know these answers are correct
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