Class Notes (837,434)
ACTSC 231 (37)
Lecture

# actsc231 lecture 2(2014 spring).pdf Premium

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School
Department
Actuarial Science
Course
ACTSC 231
Professor
R Keith Freeland
Semester
Spring

Description
Lecture 2To accumulate the money over the nth year we multiply by 1inFor simple interest at1rti1a1a0a01r11rSo r is the effective rate of interest in the 1st yeari2r1ri3r12rinr1rn1Example Find the yearly simple interest rate so that 1000 investment at time 0 will grow to 1700 in 8 yearsslon 100018r1700r0875How long does it take for the investment to become 25000875t251t1714How much interest is earned in the 3rd yearI310001087531000108752875This is the amount of interest earned in any yearAn1000875n14 Compound Interestan1i11i21inIf the annual effective rates on int
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