SOA Exam FM Sample Question 183
Study guide: Exam FM-2
Consider a 7-year loan to be repaid with equal payments made at the end of each year. The annual effective interest rate is 10%.
Calculate the Macaulay duration of the loan payments.
- A) 3.15
- B) 3.29
- C) 3.40
- D) 3.50
- E) 3.62
Answer this question and see the worked solution