SOA Exam FM Sample Question 68
Study guide: Exam FM-2
An investor wishes to accumulate 5000 in a fund at the end of 15 years. To accomplish this, she plans to make equal deposits of X at the end of each year for the first ten years. The fund earns an annual effective rate of 6% during the first ten years and 5% for the next five years.
Calculate X.
- A) 224
- B) 284
- C) 297
- D) 312
- E) 379
Answer this question and see the worked solution