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Given a nominal annual interest rate of 7 . 5 % convertible every five days, determine the sum of the equivalent: ( i ) constant
Given a nominal annual interest rate of convertible every five days, determine the sum of the equivalent:
i constant force of interest; and
ii nominal annual discount rate compounded quarterly.
Note: There are days in a year. Give your answer as a decimal rounded to four places ie
Please note that the required answer is a decimal and not a percentage.
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