Question

Struggling to work out answer

Answer 1

Px⁶ = £1,752.60

Px⁵ = £1,690.50

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x = 254/245 = 1.0367 = 3.7%

P = 1,752.60 / (254/245)⁶ = £1,411.49

a) £1,411.49

b) 3.7%