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A deposit of $27,000 earns a continuous force of interest given by 0.016t for the first 5 years (t is time in years), and
A deposit of $27,000 earns a continuous force of interest given by 0.016t for the first 5 years (t is time in years), and a constant force of 0.08 thereafter. What nominal quarterly compounding rate is earned over the first 13 years?
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Solution 1 To find the nominal quarterly compounding rate earned over the first 13 years we can use the equivalent annual rate EAR formula EAR 1 rmm 1 ...
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Chemical Principles
Authors: Steven S. Zumdahl, Donald J. DeCoste
8th Edition
1305581989, 978-1305581982
