SOA Exam FM Sample Question 336
Study guide: Exam FM-2
An actuary invests 1000 at the end of each year for 30 years. The investments will earn interest at a 4% annual effective interest rate and, at the end of each year, the interest will be reinvested at a 3% annual effective interest rate.
Calculate the accumulated value of the investment at the end of the 30-year period.
- A) 51,625
- B) 53,434
- C) 55,260
- D) 58,437
- E) 58,938
Answer this question and see the worked solution