Prizewinner in a sweepstakes.

Discussion in 'Economics' started by GFX007, Jun 21, 2009.

  1. I was thinking of using cc to compare the answers...

    But it's generally unheard of for a basic problem to use cc unless it's either specified in the question or in the pretext leading up to the question.

    And 19.5 isn't an answer anyways.
     
    #21     Jun 22, 2009
  2. TGregg

    TGregg

    Yep on cc, especially since I just noticed the OP referred to intperpolating a table rather than using math. Either our understanding of the question is incomplete or none of the answers are correct with 21.6% being the most likely choice. Once you assume there's an error in the question or answers then it cannot be solved - you can only pick the answer most likely to be marked correct.

    I suspect there may be additional factors that the OP didn't mention.
     
    #22     Jun 22, 2009
  3. GFX007

    GFX007

    Well, in the review questions I've been solving I found that the right answer is the closet one.

    How did you calculate the
    224,755.712 ?

    using F = A (F/A, 21.6%, 2) ???
     
    #23     Jun 22, 2009
  4. TGregg

    TGregg

    125000*(1+Yield)^3

    where Yield = .216
     
    #24     Jun 22, 2009
  5. GFX007

    GFX007

    thx,

    Ok this is my last question.

    How did you get this other value: :confused:

    224,635.0848
     
    #25     Jun 22, 2009