{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

ica2 - Name Aggiugfl K E 1 UNIVERSITY OF ILLINOIS AT...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Name: Aggiugfl K E 1 UNIVERSITY OF ILLINOIS AT URBANA—CHAMPAIGN Actuarial Science Program DEPARTMENT OF MATHEMATICS Math 210 l’rof. Rick Gorvett Theory of Interest F all, 2008 In-Class Assignment # 2 (2 problems worth 1 point each) Tuesday, September 2, 2008 This assignment is open-book, open-note, and you may work together in groups of no more than 4. However, each student must hand in her/his own answer sheet. Please Show the essential components of your work, and give answers to two decimal places (e.g., $x,xxx.xx and xx.xx%). 1) On July 1, 2008 you deposit $100 into an account earning a nominal rate of interest of 12%, convertible monthly. What is the value of your account on April 1, 2011? \t . U1.) 33 L 1000+ +£- =13£30 2) You deposit $200 into an account earning interest at a n0minal rate of 1(4). Five years later, the accumulated value in the account is $350. Find 1(4). (Express as a percentage, to two decimal places.) ...
View Full Document

{[ snackBarMessage ]}