Find the present value as at 1 January 2004 of a series of payments of 100 payable on the first day of each month during 2005,2006 and 2007, assuming an effective interest rate of 8% per annum. (2,986) Calculate the present value of payments of 2000 at time 0,1,2,… using pa effective. (28,315.79)
Calculate the present value of an annuity that pays 300 pa monthly in arrears forever using an effective interest rate of 6% pa. (5,136.05)
The notation for an increasing continuously payable annuity is ( ¯) ¯?. It is defined as:
( ¯) ¯? S ? ¯?
Using your financial mathematics text book and your calculus text books show how this definition is arrived at.
The notation for a continuously increasing continuously payable annuity is ( ¯¯¯) ¯?. It is defined as:
( ¯¯¯) ¯? ? ¯ ¯?
Using your financial mathematics text book and your calculus text books show how this definition is arrived at.
11. Compare and contrast ( ¯) ¯? and ( ¯¯¯) ¯?.
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