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Dave deposits $100 into a fund and $200 ten years later. Interest is earned at a nominal discount rate of 6% compounded semi-annually for the
Dave deposits $100 into a fund and $200 ten years later. Interest is earned at a nominal discount rate of 6% compounded semi-annually for the first 10 years and at a nominal interest rate of j convertible quarterly thereafter.
The accumulated balance in the fund at the end of 20 years is $500.
Calculate j.
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