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Given a nominal annual interest rate of 7.5% convertible every five days, determine the sum of the equivalent: (i) force of interest; and (ii) nominal
Given a nominal annual interest rate of 7.5% convertible every five days, determine the sum of the equivalent:
(i) force of interest; and
(ii) nominal annual discount rate compounded quarterly.
Note: There are 365 days in a year. Give your answer as a decimal rounded to four places.
(please make sure answer is right as all answers on chegg are incorrect)
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