In actuarial exams, time matters. so, it is always a good idea to know different ways/relationships so you can save a bit of time. Though you can still always derive from first principles. The way i remember this relationship is that i know the fact i > d [this is a must to know]. Now by how much i > d? it is the product of id. in other words, the relationship between i and d is that difference between them is equal to the product.
Hi @Dr. Amjad Rabi, on 5:06, 1000÷1.05=952.3824. When i checked to my calculator 1000÷1.05=952.380952381, which is confusing. Thanks and I like all of your videos. God Bless. :)
Wonderful lesson, sir
Thank you
what is the signifiance of id @11:05 ? why would we need this formula? as an equivalence relationship?
In actuarial exams, time matters. so, it is always a good idea to know different ways/relationships so you can save a bit of time. Though you can still always derive from first principles. The way i remember this relationship is that i know the fact i > d [this is a must to know]. Now by how much i > d? it is the product of id. in other words, the relationship between i and d is that difference between them is equal to the product.
Ahh thank you. This is the only formula I hadn’t seen before. So basically, we can use id or i-d to find how much larger i is than d
Hi @Dr. Amjad Rabi, on 5:06, 1000÷1.05=952.3824. When i checked to my calculator 1000÷1.05=952.380952381, which is confusing. Thanks and I like all of your videos. God Bless. :)
Oh yes, indeed you are correct. It was a typo. Thank you for pointing this out. Glad that you like the lessons. Best wishes