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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.
There are 3 months in a quarter.
PS It's always helpful to give the exam question reference in the title and you are asking about the examiners solution but don't include a screen shot of that - which means you are expecting students to guess which exam paper it is and then look it up. This is why you've not got any responses.
PS It's always helpful to give the exam question reference in the title and you are asking about the examiners solution but don't include a screen shot of that - which means you are expecting students to guess which exam paper it is and then look it up. This is why you've not got any responses.
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Faith Nyanchama
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Chandrima
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Interest rate of 8% p.a. convertible quarterly is equivalent to an effective quarterly interest rate of 2%. If monthly payment is done for 15 years, this means there will be 15*4=60 quarterly payments in total. Now, observe carefully that the question talks about "monthly" arrear payments/ "monthly" increase in arrear payments. In one quarter, there are 3 months. Hence i(3) is used. Hope your query is clarified now.