SOA Exam FM Sample Question 90
Study guide: Exam FM-2
A 5-year loan of 500,000 with an annual effective discount rate of 8% is to be repaid by level end-of-year payments.
If the first four payments had been rounded up to the next multiple of 1,000, the final payment would be X.
Calculate X.
- A) 103,500
- B) 111,700
- C) 115,200
- D) 125,200
- E) 127,500
Answer this question and see the worked solution