PDA

View Full Version : help on FM question please!!!

silva086
June 11th 2007, 01:36 PM
Ok, I passed exam P in May and have begun studying for FM this past week. I'm going over Broverman's book and can't solve what seems to be a very simple problem!!! There is an answer key in the back, but I'd like full solutions. Is there a full set of solutions anywhere online for Mathematics of Investment and Credit?

anyway here is the question, any help is GREATLY appreciated!!!

Joe deposits 10 today and another 30 in 5 years into a fund paying simple interest of 11% per year. Tina will make the same 2 deposits, but the 10 will be deposited n years from today and the 30 will be deposited 2n years from today. tina's deposits earn an effective annual rate of 9.15%. At the end of 10 years, the accumulated amount of Tina's deposits equals the accumulated amount of Joe's deposits. Calculate n.

I have been trying this problem for 2 hours and it's driving me nuts, someone please help!

hov
June 14th 2007, 10:33 PM
Ok, I passed exam P in May and have begun studying for FM this past week. I'm going over Broverman's book and can't solve what seems to be a very simple problem!!! There is an answer key in the back, but I'd like full solutions. Is there a full set of solutions anywhere online for Mathematics of Investment and Credit?

anyway here is the question, any help is GREATLY appreciated!!!

Joe deposits 10 today and another 30 in 5 years into a fund paying simple interest of 11% per year. Tina will make the same 2 deposits, but the 10 will be deposited n years from today and the 30 will be deposited 2n years from today. tina's deposits earn an effective annual rate of 9.15%. At the end of 10 years, the accumulated amount of Tina's deposits equals the accumulated amount of Joe's deposits. Calculate n.

I have been trying this problem for 2 hours and it's drivinhttp://allhiphop.com/forums/4105/ShowForum.aspx