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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License. math exams: Question FM 11/11/2011 11:47

Friday, November 11, 2011

Question FM 11/11/2011 11:47

The sum of the accumulated value of $\$1$ at the end of four years at a certain effective rate of interest i, and the present value of $\$1$ to be paid at the end of four years at an effective rate of discount equal to i is 1.0042. Find the rate i.

Ans: $2.645\%$

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