Thread: FM Problem
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Old 10-24-2019, 11:57 PM
Academic Actuary Academic Actuary is offline
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The first statement will give a angle 12n. The second will give s double dot angle 12n. Take the ratio to give (1+i)^(12n+1) where i is the monthly rate. Add 1 to the s to convert it to 12n+1 payments. Use the formula to solve for the monthly rate. Convert to an annual rate.
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