UNIVERSITY OF ILLINOIS AT URBANA-CHAMPAIGN Actuarial Science Program DEPARTMENT OF MATHEMATICS
Math 210 Theory of Interest Prof. Rick Gorvett Fall, 2010
Homework Assignment # 1 (max. points = 10) Due at the beginning of class on Thursday, September 2, 201
l\/Iath 210 Theory of Interest Spring 2014
Exam # 2
Last name: 99 l” HO" 5 First name:
Instructions: Exam is closed—book. Only SOA approved calculators are allowed. Where
possible. show enough work to indicate your thinking. Partial credit will be given.
Math 210 Theory of Interest
Exam
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MATH 210
Spring 2014
Illustrative Solutions to Assignment 7
Total points: 30
1. Auto loan
(a) (3 points)
[1] Monthly eective interest rate j = (1.069)1/12 1 = 0.005576
[2] Let P be the monthly payment. Set up the equation of value:
36
60000 = P a36 j + 56
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UNIVERSITY OF ILLINOIS AT URBANA-CHAMPAIGN Actuarial Science Program DEPARTMENT OF MATHEMATICS
Math 210 Theory of Interest Prof. Rick Gorvett Fall, 2010
Homework Assignment # 2 (max. points = 10) Due at the beginning of class on Thursday, September 9, 201
Math 210 Theory of Interest Spring 2014
Exam # 3
Last name: gélWh‘O“ S First name:
Instructions: Exam is closed-book. Only SOA approved calculators are allowed. Where
possible, show enough work to indicate your thinking. Partial credit will be given, but