Asked by Anonymous
Joeli deposited $1000 on 1 January 2011 in an account paying interest of 12% p.a compounded quarterly. He also deposited $800 (on 1 January 2011) in another account which pays 15% p.a. effective interest. Find the time (n) when the two accounts will be equal value if the exact method is used for fractions of an interest period.
Answers
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.