Question: 1 (13 points) How much interest is earned during the loth year by 900 dollars invested today under 6% simple interest? Solution: 54 2. (12

1 (13 points) How much interest is earned during the loth year by 900 dollars invested today under 6% simple interest? Solution: 54 2. (12 points) Bruce deposits 700 dollars into a bank account. His account is credited interest at a nominal rate of interest of 7% convertible monthly. At the same time, Peter deposits 700 dollars into a separate account. Peter's account is credited interest at a force of interest of . After 11 years, the value of each account is the same. Calculate 6. Solution: 0.0698

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