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The Bank of England base rate was at 0.75%0.75% until March 10 2020, at 0.25%0.25% from March 11 until March 18, and at 0.1%0.1% from
The Bank of England base rate was at 0.75%0.75% until March 10 2020, at 0.25%0.25% from March 11 until March 18, and at 0.1%0.1% from March 19 until the end of the year. Suppose at the beginning of 2020 you had 10,00010,000 in a savings account. How much would you have had at the end of 2020, assuming continuous compounding according to the force of interest r(t)(t in years) that follows the Bank of England base rate?
The Bank of England base rate was at 0.75% until March 10 2020, at 0.25% from March 11 until March 18, and at 0.1% from March 19 until the end of the year. Suppose at the beginning of 2020 you had 10,000 in a savings account. How much would you have had at the end of 2020, assuming continuous compounding according to the force of interest r(t) (t in years) that follows the Bank of England base rate? Select one: O a. 11, 113.64 O b. 10,022.78 O c. 10,051.5 O d. 10,010.37Step by Step Solution
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