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An investment fund accumulates with force of interest , for . At time 0. there is $100,000 in the fund. At time 1, there is
An investment fund accumulates with force of interest , for
.
At time 0. there is $100,000 in the fund.
At time 1, there is $110,000 in the fund.
The only two transactions during the year are a deposit of $15,000 at time 0.25 and a withdrawal of $20,000 at time 0.75.
Calculate .
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