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Bruce deposits 100 into a bank account. His account is credited interest at an annual nominal rate of interest of 4% convertible semiannually. At the
Bruce deposits 100 into a bank account. His account is credited interest at an annual nominal rate of interest of 4% convertible semiannually. At the same time, Peter deposits 100 into a separate account. Peter's account is credited interest at an annual force of interest of 8. After 7.25 years, the value of each account is the same. Calculate 8. (A) (B) (C) (D) (E) 0.0388 0.0392 0.0396 0.0404 0.0414
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