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| rev | Admin | (Created page with "A bank agrees to lend 10,000 now and X three years from now in exchange for a single repayment of 75,000 at the end of 10 years. The bank charges interest at an annual effective rate of 6% for the first 5 years and at a force of interest <math display = "block"> \delta_t = \frac{1}{t+1}, \quad \textrm{for} \, t \geq 5.</math> Calculate X <ul class="mw-excansopts"><li>23,500</li><li>24,000</li><li>24,500</li><li>25,000</li><li>25,500</li></ul> {{soacopyright | 2023 }}") | Nov 19'23 at 0:32 | +474 |