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I would like to know how to calculate 64.9%. I had tried different figures but still cannot calculate.
“Assumptions
Based on the calculations given above, it is estimated that the value created will be 64·9% or $285·80m.”Many thanks
I am sorry, but although I am happy about the $285.80 (maximum premium), I have no idea how he arrived at 64.9%.
It is poor of the examiner because no student’s answer in an exam should ever quote a % without saying what it is a % of – just quoting a % means nothing.
Fortunately, it was not required anyway – all the question wanted was the maximum premium 🙂
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