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I need an expert explanation on how we apply the formulas to solve these questions and why we choose this type of formula, I can do the math but I
I need an expert explanation on how we apply the formulas to solve these questions and why we choose this type of formula, I can do the math but I have no idea about how to start solving these questions and why sometimes (for example) we need to put negative on the power or why we do it on this way .. I hope someone understands me and can help me with understanding how to apply these formulas!!!!!!!
Fund A accumulates at a rate of 12% convertible quarterly. Fund B accumulates with a force of interest δt = 2t/3, for all t. At time t = 0, the amount of 1$ is deposited in each fund. T is the time that the two funds are equal, T > 0. Determine T (in years).
Round your answer to the second decimal place.
A loan of $12,000 is going to be repaid with 8 annual payments made at the end of each year, from 1 to 8. The effective annual interest rate is i = 6%.
Determine the annual payment.
On January 1, 2008, Renee has two options for repaying her loan. The first option requires her to make payments of $1,000 at the beginning of each year for 10 years (with the first payment to be made immediately on January 1, 2008). The second option requires her to make a single payment of $10,000 at the end of N years. Interest is credited at an effective annual rate of 13%. Determine N.
