This video is another in the Further Maths series on Financial Mathematics! This time I am looking at annuities. I look at what an annuity is and how we can use recurrence relations and the CAS to help us calculate how long an annuity will last for. The great thing is that lots of us will use them in our lifetimes. We might save up for a trip around the world and use the money to finance ourselves, or something as simple as a Pension (or Super). This video is supported with lots of examples and a great section on Amortization Tables.
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