You are working on a complex financial model which has an interest component. One of the scenarios the model will test involves an examination of effects if interest rates gradually rise from their current level by 3% over a 6-year period. Since the rest of the model is based on continuous process, you believe that the force of interest should be used for consistency. The current force of interest is equal to 5%. You assume that this force of interest will increase linearly to 8% over the 6-year period. If 1,000,000 will be owed from an outside party at the end of 6 years, find its present value.

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