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**Unformatted text preview: **8. Effective Rate of Interest : (1 ) 1 k E i = +-(The effective rate for an account.) 9. Future Value of an Annuity: (1 ) 1 kt i S R i +-= (The amount at the end for an ordinary annuity with regular payments.) 10. Present Value of an Annuity: 1 (1 ) kt i P R i- - + = (The present value of an ordinary annuity with regular payments.) 11. ‘Sinking Fund’ Payment for an Annuity: (1 ) 1 kt Si R i = +-(The amount of a payment that will provide a future value of an ordinary annuity.) 12. Amortization Formula (Installment Payments): 1 (1 ) kt i R A i- = -+ (The amount of an installment payment when the amount borrowed is A .)...

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