Question: During the first 3 years, interest is credited using a compound interest rate of 4 % per year. After 3 years, interest is credited at
During the first years, interest is credited using a compound interest rate of per year. After years,
interest is credited at a force of interest:
The following are numerically equal
the current value at time of payment of at time and at time ; and
the present value at time of a payment of at time
Calculate
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