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(1 - v^12)/j = 10.52632 = a:n (the present value of an annuity-immediate)
n = 12 PMT = 1 PV = 10.52632
To calculate j, CPT %i
The answer will be in terms of a percentage.
The answer I got was 2.076%.
Hope this helps.
Erica
------------------( Forwarded letter 1 follows )--------------------
Date: Fri Oct 09 10:57:15 1998
To: studygroup4a@lists.casact.org
Sender: studygroup4a-return@casact.org
Subject:
How can you use your TI BA-35 calculator to solve for "J" in the following
(1-(1+j)^-12)/j = 10.52632
The question is from the sample exam May 1993 #17
Thanks
Peter
BEGIN:VCARD
N:Clarke;Peter
FN:Peter Clarke
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