Question
A deposit of $1000 earns a continuous force of interest given by 0.06 t for the first three years ( t is time in years),
A deposit of $1000 earns a continuous force of interest given by 0.06tfor the first three years (tis time in years), and a constant force of 0.07 thereafter. What nominal quarterly compounding rate is earned over the first 4 years?
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Basic Finance An Introduction To Financial Institutions, Investments, And Management
Authors: Herbert B. Mayo
12th Edition
1337691011, 978-1337691017
