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$ 5 0 0 is invested in Fund X and $ 5 0 0 is invested in Fund Y . Fund Y earns interest at

$500 is invested in Fund X and $500 is invested in Fund Y. Fund Y earns interest at an effective annual discount rate d, and Fund X earns interest at a simple annual discount rate of 0.975d.
At the end of two years, the amount in Fund X is equal to the accumulated value in Fund Y.
If $1,000 is invested in Fund X at the end of the first year, what is the accumulated value at the end of five years?

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