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(Solved): A Fund Quotes Annual Force Of Interest As Follows. Year 1 2 3 8t 5% 12% 10% 9% A Deposit Of K Accumu...
A fund quotes annual force of interest as follows. Year 1 2 3 8t 5% 12% 10% 9% A deposit of K accumulates to 2400 over 4 years. What is K?
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What is K? Answer: 1,702.098 Workings Yearend Value = year Beginning Value + Interest Interest = Year Beginning Value * interest rate for that year With help of the above formula we can find the va