SOA Exam FM Sample Question 92
Study guide: Exam FM-2
A loan of X is repaid with level annual payments at the end of each year for 10 years. You are given:
i) The interest paid in the first year is 3600; and ii) The principal repaid in the 6th year is 4871.
Calculate X.
- A) 44,000
- B) 45,250
- C) 46,500
- D) 48,000
- E) 50,000
Answer this question and see the worked solution