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A deposit of 100 is made into a fund at time t = 0. The fund pays interest at a nominal rate of discount of
A deposit of 100 is made into a fund at time t = 0. The fund pays interest at a nominal rate of discount of d compounded quarterly for the first two years. Beginning at time t = 2, interest is credited at a force of interest t = 1 t+1 . At time t = 5, the accumulated value of the fund is 260. Calculate d.
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