Problemlet in 01n for n 1 2 3 4 be the effective rates of, Ask an Expert

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Problem:

Let in = 0.1n for n = 1, 2, 3, 4 be the effective rates of interest earned during the n-the year.

Question: Find a (4) and the effective annual interest rate earned during the first four years.

Please provide step by step solution of above question.

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