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Date Posted: 15:51:19 07/23/02 Tue
Author: Dr.D
Subject: Beginning of year or End of Year?
In reply to: Casey 's message, "Problem Set #2 Question #10" on 19:06:19 07/16/02 Tue

>Is he asking for the the balance at the Beg. of year 5
>or the ending bal.(Beg. year 6)?

When a problem asks for a balance in a given year, it means "at the end of the year". Think of it this way: the Beginning of year 1 is actually time 0, so if I said I needed an amount in 1 year, you would assume that it means at the end of the current year.

Hope this helps.

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