Question

• At time t = 0, Mike puts $1000 into a fund earning interest at a...

• At time t = 0, Mike puts $1000 into a fund earning interest at a nominal rate of I compounded monthly.
• At time t = 2, Ralph puts $1000 into a different fund earning interest at a force δt = 1/(5 + t).• At time t = 16, the amounts in each fund will be equal.

Calculate i.

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