SOA/FM SAMPLE QUESTION #9
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SOA/FM SAMPLE QUESTION #9
9. A 20-year loan of 1000 is repaid with payments at the end of each year. Each of the first ten payments equals 150% of the amount of interest due. Each of the last ten payments is X. The lender charges interest at an annual effective rate of 10%. Calculate X. (A) 32 (B) 57 (C) 70 (D) 97 (E) 117
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Are you registered for an SOA exam, e-Learning Associateship, or Fellowship module? If so, download our free SOA Learning Companion Mobile app today. It is a collaborative platform that allows you to interact with other peers and enhance your learning. Download it today and enhance your educational experience. https://bit.ly/3OMzHfZ. | Society of Actuaries | Facebook
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