SOA Exam FM Sample Question 396
Study guide: Exam FM-2
The present value of a series of payments of 1 made every six months forever, with the first payment made immediately, is equal to 23.
Calculate the annual effective rate of interest.
- A) 4.3%
- B) 4.5%
- C) 8.9%
- D) 9.1%
- E) 9.3%
Answer this question and see the worked solution