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1. Calculate the time in years for $2,000 to accumulate to $3,000 at a. 6% simple interest (12) b. 6% interest compounded monthly (i.e. (¹²) = 0.06) c. A force of interest of 6%.

1. Calculate the time in years for $2,000 to accumulate to $3,000 at a. 6% simple interest (12) b. 6% interest compounded monthly (i.e. (¹²) = 0.06) c. A force of interest of 6%.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
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1. Calculate the time in years for $2,000 to accumulate to $3,000 at a. 6% simple interest (12) b. 6% interest compounded monthly (i.e. (¹²) = 0.06) c. A force of interest of 6%.
Transcribed Image Text:1. Calculate the time in years for $2,000 to accumulate to $3,000 at a. 6% simple interest (12) b. 6% interest compounded monthly (i.e. (¹²) = 0.06) c. A force of interest of 6%.
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1. Calculate the time in years for $2,000 to accumulate to $3,000 at a. 6% simple interest b. 6% interest compounded monthly (i.e. (¹²) = 0.06) c. A force of interest of 6%.
Transcribed Image Text:1. Calculate the time in years for $2,000 to accumulate to $3,000 at a. 6% simple interest b. 6% interest compounded monthly (i.e. (¹²) = 0.06) c. A force of interest of 6%.
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