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Which describes the balance at specific time

You invest an amount A into an account at time0. The account is governed by a constant force of interest equal to 0.04.

At time - 4, you deposit an additional amount 3A into the account and the force of interest changes to 0.06.

Which of the following best describes your balance at time 8?

(a) A(e^0.16 + 3e^0.24)

(b) A(e⁰^.³² + 3e^0.24)

(d) A(e^0.40 + 3e^0.48)

(e) None of the above

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Solution Preview :

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Accounting Basics: Which describes the balance at specific time

Reference No:- TGS0697897

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: Which describes the balance at specific time

Reference No:- TGS0697897

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