Question: Where applicable, and if not specifically addressed in the question, assume interest is compounded annually ( i.e. P/Y = 1 ) , at the end

Where applicable, and if not specifically addressed in the question, assume

Where applicable, and if not specifically addressed in the question, assume interest is compounded annually ( i.e. P/Y = 1) , at the end of each year. The only exception will be for the mortgage problem (#34), which will have payments and interest calculated on a monthly basis, at the end of each month.

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