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a Eric deposits 24 into a fund at time O and an additional 24 into the same fund at time 16. The fund credits interest
a Eric deposits 24 into a fund at time O and an additional 24 into the same fund at time 16. The fund credits interest at an annual effective rate of i. Interest is payable annually and reinvested at an annual effective rate of 0.74i. At time 32, the accumulated amount of the reinvested interest payments is equal to 84. Calculate i, i > 0. [5.a-c #07] 5% 04.8% 4.7% 04.6% 5.1%
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