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Problem 2.4 Money is deposited in a bank account. For the first 4 years the account earns a nominal annual rate of 8% converted monthly.

Problem 2.4 Money is deposited in a bank account. For the first 4 years the account earns a nominal annual rate of 8% converted monthly. For the next 6 years the balance accumulates at a force of interest of 6%. For this 10 year period, what is the equivalent nominal annual discount rate, convertible quarterly?

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