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April 2007 Q14 Profit Testing

S

sullyfer

Member
Im confused as to why the closing reserves in this question have not been calculated using the formula:
PtV=t-1V*(1+i)-Px+t+1 tV

Can anyone explain why this example is different? (e.g to the exam style question at the end of chapter 11 in the notes)

Thanks
 
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