Question
A deposit of $5,000 earns a continuous force of interest given by 0.016 t for the first 2 years ( t is time in years),
A deposit of $5,000 earns a continuous force of interest given by 0.016tfor the first 2 years (tis time in years), and a constant force of 0.032 thereafter. What nominal quarterly compounding rate is earned over the first 10 years?
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Personal Finance
Authors: Jack R. Kapoor, Les R. Dlabay, Robert J. Hughes, Melissa Hart
12th edition
1259720683, 978-1259720680
