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CT1 September 2017 Question 10(ii)

A

Attack

Keen member
Hi Guys. Anyone to assist on how the tables were used to come up with the annuity term of 41 years. I got all the factors but I am failing to see how they used the tables to come up with 41. Thanks
 
(Ia)t / at = 16.960

if you look at the tables, (Ia)41 = 397.0675 and a41 = 23.4124

so (Ia)41/a41 = 397.0675/23.4124 = 16.96

is this what you mean?
 
In this part of the question you end up with the expression ((Ia):<t>)/(a:<t>) = 16.960. The question asks you to show that t = 41, so if you calculate or look up (Ia):<41> and a:<41> then you can show that t = 41 satisfies the expression. Knowing the answer already helps a lot in this question!
 
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