SOA Exam FM Sample Question 279
Study guide: Exam FM-2
A debt is amortized with 60 equal monthly payments at an annual effective interest rate of 12%. The amount of principal in the third payment is 900.
Calculate the amount of principal in the 33rd payment.
- A) 668
- B) 900
- C) 1008
- D) 1195
- E) 1213
Answer this question and see the worked solution