SOA Exam FM Sample Question 178
Study guide: Exam FM-2
An investor will accumulate 10,000 at the end of ten years by making level deposits of X at the beginning of each year. The deposits earn 12% simple interest at the end of every year but the interest is reinvested at an annual effective rate of 8%.
Calculate X.
- A) 508.79
- B) 541.47
- C) 569.84
- D) 597.73
- E) 608.42
Answer this question and see the worked solution