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September 17th, 2008, 09:43 PM  #11  
Global Moderator Joined: Nov 2006 From: UTC 5 Posts: 16,046 Thanks: 938 Math Focus: Number theory, computational mathematics, combinatorics, FOM, symbolic logic, TCS, algorithms  Re: Calculating Return Quote:
Quote:
 
September 18th, 2008, 09:36 AM  #12  
Senior Member Joined: May 2008 Posts: 299 Thanks: 81  Re: Calculating Return
This is basically a bond problem. What you have is a 520% bond that pays coupons weekly whose redemption date is unknown. Thus, Quote:
"A man pays off a $30000 bet, interest and principal, in 10 equal installments made on Dec. 1st for 10 years. Find the amount of his annual payment if interest is charged at 12% per annum compounded annually." My impression: If a man just incurred a $30,000 debt from a bet, I’m betting he won’t live long after making an arrangement with his (probably mob) bookie like paying it off in 10 equal installments over a period of 10 years.  

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