Question
On July 1, 1999 (i.e. half way through the year or t = 0.5) a person deposits 1000 into a fund for which the
On July 1, 1999 (i.e. half way through the year or t = 0.5) a person deposits 1000 into a fund for which the force of interest at time t is given by 3+2t 6, 50 where t is the number of years since January 1, 1999. Another deposit of size 500 is made on July 1, 2000 (i.e. again, half way through the year). Determine the accumulated value of the entire investment on January 1, 2001. Round to the nearest whole number.
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Engineering Economy
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
15th edition
132554909, 978-0132554909
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