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The force of interest, 8(t), is a function of time and at any time t, measured in years, is given by the formula: 0.06, 0.100.01 8(t) = 0≤ t ≤ 4; 4 < t <7; 0.01 0.04 7

The force of interest, 8(t), is a function of time and at any time t, measured in years, is given by the formula: 0.06, 0.100.01 8(t) = 0≤ t ≤ 4; 4 < t <7; 0.01 0.04 7

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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The force of interest, 8(t), is a function of time and at any time t, measured in years, is given by the formula: 8(t) = 0 ≤ t ≤ 4; 4 < t <7; 0.06, 0.10 0.01 0.01 0.04 7<t. = (a) Calculate the value at time t 5 of £1,000 due for payment at time t = 10. (b) Calculate the constant rate of interest per annum convertible monthly which leads to the same result as in (a). (c) Calculate the accumulated amount at time t = 12 of a payment stream, paid continuously from time t = O to t = 4, under which the rate of payment at time t is p(t) 100e0.02t =
Transcribed Image Text:The force of interest, 8(t), is a function of time and at any time t, measured in years, is given by the formula: 8(t) = 0 ≤ t ≤ 4; 4 < t <7; 0.06, 0.10 0.01 0.01 0.04 7<t. = (a) Calculate the value at time t 5 of £1,000 due for payment at time t = 10. (b) Calculate the constant rate of interest per annum convertible monthly which leads to the same result as in (a). (c) Calculate the accumulated amount at time t = 12 of a payment stream, paid continuously from time t = O to t = 4, under which the rate of payment at time t is p(t) 100e0.02t =
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