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1 . 6 . 3 S At time t = 0 , 1 is deposited into each of Fund x and Fund Y . Fund

1.6.3S At time t=0,1 is deposited into each of Fund x and Fund Y.
Fund x accumulates at a force of interest t=t2k. Fund Y accu-
mulates at a nominal rate of discount of 8% per annum converti-
ble semiannually. At time t=5, the accumulated value of Fund x
equals the accumulated value of Fund Y. Determine k.
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