Question

Convert the constant annual effective rate 2.3443% to force of interest δ , determine the accumulated amount in your account at 31 December 2020 (ten years in total) according to the following deposit patterns. i) Deposit $5,000 per annum continuously over 10 years. ii) Deposit $5,000 continuously for the first year and keeps increasing by $1000 in the subsequent years until the yearly continuous rate of deposit achieves $9,000, then remains at $9,000 in all the following years. iii) Deposit $9,000 continuously for the first year and keeps decreasing by $500 in the subsequent years until the yearly continuous rate of deposit achieves $5,500, then remains at $5,500 in all the following years. iv) Deposit $6,000 continuously over year 2011, $6600 continuously over year 2012, $7200 continuously over year 2013, ……, and $11,400 continuously over year 2020.   
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Answer 1

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