Unformatted text preview: ENG 106 Winter ‘12
Quiz #2 Open Notes Name:
You make a deposit of $100 is made at the end of each 6 months (semi‐annual) for 4 years. Assume a 12% interest rate. a) Determine the semiannual interest rate. b) Set up the equation for the present worth (P) of these deposits using the series equations (i.e. one of the A equations) and the appropriate values for A, N and i. Set up the equations but do not solve. P 0 1 2 3 4 years 100 a) % 6% b) P = A (P/A, I, N) = $100 (P/A, 6%, 8) or 100 .
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- Spring '12
- appropriate values, open notes, semiannual interest rate