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10 questions from this quiz
Interest earning time period
60 months
(1+i)=(1.055)1/12(1+i)=(1.055)^{1/12}(1+i)=(1.055)1/12
Lose precision in calculation
Geometric series
1.0551/121.055^{1/12}1.0551/12
Number of terms in series
Sn=a(1−rn)1−rS_n=\frac{a(1-r^n)}{1-r}Sn=1−ra(1−rn)
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