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Chapter 3 Mathematics of Finance - page 19 / 20

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Barnett/Ziegler/Byleen Finite Mathematics 12e

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Strategy for Solving Mathematics of Finance Problems

Step 1.  Determine whether the problem involves a single payment or a sequence of equal periodic payments.

Simple and compound interest problems involve a single present value and a single future value.  

Ordinary annuities may be concerned with a present value or a future value but always involve a sequence of equal periodic payments.

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