On page 15, why do we need to use annuity with a (12)? Why not just a normal annuity for 42 year old, seems like subtracting 11/24. What does this (12) mean? Thank you in advance.
Hi Kimiko I can't see any formulae on page 15 - are you using an old set of notes? The (12) refers to monthly payments. Annuity functions are described in Subject CM1. Best wishes Mark
