Given that nothing else is borrowed in the near future, the length a government to completely eliminate its stock of debt will be ent how much more annual repayments exceed the annual interest er nterest expense portion of the debt is a function of the present st s given by i(y) = y – y? The amount of money that the government repays to reduce its d assumed to be a fraction, a, of the present stock of debt. Repayme end of each financial year. Soluo for thn procont cto nction oft

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