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7. An account pays 9% interest, compounded monthly. (a) Determine the (annual) accumulation function. (b) Determine the effective interest rate for the 3rd month. c)

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7. An account pays 9% interest, compounded monthly. (a) Determine the (annual) accumulation function. (b) Determine the effective interest rate for the 3rd month. c) Determine the effective interest rate for the 5th month. (d) Determine the monthly accumulation factor. (e) Determine the monthly discount factor. (f) Determine the effective interest rate for the 2nd quarter (g) Determine the effective interest rate for the 4th quarter. (h) Determine the quarterly accumulation and discount factors. (i) Determine the equivalent force of interest

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