1) The force of interest is given by 8: = 0.042. Compute the following values 3 S- Enter an answer correct to 6 decimal places. 2) You are paid £1 a day for 4 years. The interest rate is 2%. Model the daily payments as an annuity paid continuously and compute the accumulated value of this annuity. £ Enter an answer correct to 2 decimal places.
1) The force of interest is given by 8: = 0.042. Compute the following values 3 S- Enter an answer correct to 6 decimal places. 2) You are paid £1 a day for 4 years. The interest rate is 2%. Model the daily payments as an annuity paid continuously and compute the accumulated value of this annuity. £ Enter an answer correct to 2 decimal places.
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.4: Geometric Sequences And Series
Problem 7SC
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