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ActSci 231 W09 : Gradebook
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Assignment detail for PoWei Chuang in Assignment 5:
PoWei Chuang
Login:
pchuang
Email:
[email protected]
Student ID:
20260696
Assignments completed:
9
Assignments active:
0
Question
Grade
1
A loan of $10,000 is being paid by installments of $2,000 at the end of each
period, and a smaller final payment made one period after the last regular
payment. Interest is at the end of each period at 11% compounded monthly. Find
the amount of outstanding loan balance remaining when the borrower has made
payments equal to the amount to the loan. Answer to the nearest dollar.
Your
Answer:
281.79
Correct
Answer:
282
Comment:
We seek the outstanding balance after 5 payments. Since the number of future
payments is unknown, the retrospective formula should be used:
Instructors Comment:
0.0
2
On her eighteenth birthday, Latisha receives an annuity that is to pay
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This note was uploaded on 03/24/2010 for the course ACTSC 231 taught by Professor Chisholm during the Winter '09 term at Waterloo.
 Winter '09
 Chisholm

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