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A loan of 100 is to have all principal and accrued interest pald at the end of five years. Interest accrues at an annual effective

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A loan of 100 is to have all principal and accrued interest pald at the end of five years. Interest accrues at an annual effective rate of 596 for the first two years and at a force of interest at time t in years (t>2) of t=1+t1. Calculate the equivalent annual effective rate of discount for the fivo-year period. 10.996 13.94% 14.696 15.466 17.195

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