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Enrique deposits 10,000 pesos today and another 30,000 in 5 years in a fund that pays simple interest of 11% per year. Rachel will make
Enrique deposits 10,000 pesos today and another 30,000 in 5 years in a fund that pays simple interest of 11% per year. Rachel will make the same two deposits as Harry, but the 10,000 will be deposited n years from today and the 30,000 2n years from today. Raquel's deposits will earn an effective annual rate of 9.15%. At the end of 10 years, the amount accumulated in Raquel's account is equal to the amount accumulated in Enrique's account. Calculate no. Explain step by step, make a timeline.
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