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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License. math exams: Question FM 11/17/2011 11:07

Thursday, November 17, 2011

Question FM 11/17/2011 11:07

Jade invests X at time 10 in order to receive 100 at the end of the 15 th year. Find X,
using an annual effective rate of interest of

$\%5$ .

Ans: $100\frac{1-(1.05)^{-10}}{0.05}.(1.05)^{-4}$

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