NO.PZ2015120604000170
问题如下:
A.J. plans to pay his child's tuition fee for four years starting 15 years from now. He estimates the fees is $22,000 per year. If the saving account interest rate is 5.5% annually, and how much payment A.J. should make at the end of each year from now?
选项:
A.
$3,441.23
B.
$3,800.07
C.
$4,009.08
解释:
B is correct.
Step 1: N = 4, FV = 0, I/Y = 5.5, PMT = 22,000, CPT PV = -77,113.30
Step 2: PV =0, N = 14, I/Y = 5.5, FV = 77,113.30, CPT PMT =-$3,800.07
我的理解:Step2中得n=14是因为‘four years starting 15 years from now’的意思是:第十五年开始的时候,就要同时开始上4年的大学。因为本题采用END模式,所以15年的年初等于14年的年末。