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Math Help - Techniques and elements of Finance

  1. #1
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    Techniques and elements of Finance

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  2. #2
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    Re: Techniques and elements of Finance

    Again sorry but I don't seem to be able to type in the writing box for some reason :S

    Here's my question/ clues that were given with it:


    A sum of $1900 is deposited today into an account earning interest at 9.9% p.a. convertible 2 times a year. What deposit should be made in 1 years time if the account is to accumulate to $5900 in 4 years from today?

    (The deposit of $1900 accumulated for (24) time units plus the accumulation of $X for the appropriate number of time units will equal $5900.

    As an example to check your method, suppose that $1,200 is deposited today into an account earning 10% p.a. convertible 4 times a year. What deposit should be made in 3 years time if the account is to accumulate to $5,000 in 4 years from today? The answer is $2,915.89)
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  3. #3
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    Re: Techniques and elements of Finance

    Quote Originally Posted by schwanson1 View Post
    Again sorry but I don't seem to be able to type in the writing box for some reason :S

    Here's my question/ clues that were given with it:


    A sum of $1900 is deposited today into an account earning interest at 9.9% p.a. convertible 2 times a year. What deposit should be made in 1 years time if the account is to accumulate to $5900 in 4 years from today?

    (The deposit of $1900 accumulated for (24) time units plus the accumulation of $X for the appropriate number of time units will equal $5900.

    As an example to check your method, suppose that $1,200 is deposited today into an account earning 10% p.a. convertible 4 times a year. What deposit should be made in 3 years time if the account is to accumulate to $5,000 in 4 years from today? The answer is $2,915.89)
    1900\left(1+\frac{i^{(2)}}{2}\right)^8 + X\left(1+\frac{i^{(2)}}{2}\right)^6 = 5900
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