• We are pleased to announce that the winner of our Feedback Prize Draw for the Winter 2024-25 session and winning £150 of gift vouchers is Zhao Liang Tay. Congratulations to Zhao Liang. If you fancy winning £150 worth of gift vouchers (from a major UK store) for the Summer 2025 exam sitting for just a few minutes of your time throughout the session, please see our website at https://www.acted.co.uk/further-info.html?pat=feedback#feedback-prize for more information on how you can make sure your name is included in the draw at the end of the session.
  • Please be advised that the SP1, SP5 and SP7 X1 deadline is the 14th July and not the 17th June as first stated. Please accept out apologies for any confusion caused.

CM2B: 2019 April Q4 (iv)

yuli2513

Very Active Member
The answer given deducts 13981 calculated in cell M60 from the end of the accumulated amount of 50000.
However, this 13981 is the end of year loan outstanding in year 9 instead of year 10.
Shouldn't we deduct the end of year loan outstanding in year 10 which is 9540.9 from my calculation instead?
 
If you're referring to the IFoA solution spreadsheet, the value of -13,982 definitely applies at time 10 (ie at the end of year 10). It looks like your -9540.9 comes from running the simulation for one too many periods. Make sure you start with -50,000 at time zero rather than time 1 - might that be it?
 
Back
Top