document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1179819>Question 1179819</A>: <I><SPAN STYLE=\"word-break: break-all;\"> f.	Find the present values of the following annuities\r<BR>\n" );
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document.write( "i.	RM6,000 every year for 8 years at 12% compounded annually<BR>\n" );
document.write( "ii.	RM800 every month for 2 years 5 months at 5% compounded monthly<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #851907 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(52776)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ikleyn><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=ikleyn><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=851907\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .<BR>\n" );
document.write( "f. Find the present values of the following annuities<BR>\n" );
document.write( "i. RM6,000 every year for 8 years at 12% compounded annually<BR>\n" );
document.write( "ii. RM800 every month for 2 years 5 months at 5% compounded monthly<BR>\n" );
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document.write( "I checked calculations by &nbsp;@CPhill.\r<BR>\n" );
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document.write( "For calculations, &nbsp;I used &nbsp;MS Excel in my computer. &nbsp;This software is commonly considered <BR>\n" );
document.write( "as a standard tool, &nbsp;which provides the necessary precision for such calculations.\r<BR>\n" );
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document.write( "For &nbsp;(i), &nbsp;I got the same value, &nbsp;so this part is correct.\r<BR>\n" );
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document.write( "For &nbsp;(ii), &nbsp;I got different value of  &nbsp;RM 21810.41.\r<BR>\n" );
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document.write( "In this case, &nbsp;I used formula\r<BR>\n" );
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document.write( "    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PV = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=800%2A%28%281-%281%2B0.05%2F12%29%5E%28-29%29%29%2F%28%280.05%2F12%29%29%29 ALIGN=MIDDLE  ALT=\"800%2A%28%281-%281%2B0.05%2F12%29%5E%28-29%29%29%2F%28%280.05%2F12%29%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >.\r<BR>\n" );
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document.write( "I did not perform intermediate rounding: &nbsp;it is &nbsp;PROXIBITED &nbsp;in such calculations<BR>\n" );
document.write( "and makes big influence, &nbsp;leading to incorrect answer.\r<BR>\n" );
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document.write( "I copy/pasted this my formula into &nbsp;Excel spreadsheet as is and got the answer in the next instance.\r<BR>\n" );
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document.write( "The difference in our predictions is &nbsp;&nbsp;21810.41 - 21571.39 = 239 RM.\r<BR>\n" );
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document.write( "Such a great discrepancy in Finance calculations is not allowable and is not acceptable.\r<BR>\n" );
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document.write( "Overviewing calculations by &nbsp;@CPhill in many other his posts, &nbsp;I concluded,<BR>\n" );
document.write( "that he is irresponsible in his calculations and does not care about their precision.\r<BR>\n" );
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