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Over a given year the force of interest per annum is a linear function of...

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Finance

Over a given year the force of interest per annum is a linear function of time, falling from 0.15 at the start of the year to 0.12 at the end of the year. Find the value at the start of the year of the nominal rate of interest per annum on transactions of term

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(a) 3 months,

(b) 1 month,

(c) 1 day.

Find also the corresponding values midway through the year. (Note how these values tend to the force of interest at the appropriate time.)

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