On July 1, 1999 (i.e. half way through the year or t = 0.5) a person...

 

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On July 1, 1999 (i.e. half way through the year or t = 0.5) a person deposits 1000 into a fund for which the force of interest at time t is given by 3+2t 6, 50 where t is the number of years since January 1, 1999. Another deposit of size 500 is made on July 1, 2000 (i.e. again, half way through the year). Determine the accumulated value of the entire investment on January 1, 2001. Round to the nearest whole number. On July 1, 1999 (i.e. half way through the year or t = 0.5) a person deposits 1000 into a fund for which the force of interest at time t is given by 3+2t 6, 50 where t is the number of years since January 1, 1999. Another deposit of size 500 is made on July 1, 2000 (i.e. again, half way through the year). Determine the accumulated value of the entire investment on January 1, 2001. Round to the nearest whole number.

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Answer investment on July 1st 1999 1000 Force of interest 32 t 50 3 2 x 05 5... View the full answer