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Eric deposits 350 into a savings account at time 0, which pays interest at an annual nominal rate of i, compounded semiannually. Mike deposits 600
Eric deposits 350 into a savings account at time 0, which pays interest at an annual nominal rate of i, compounded semiannually. Mike deposits 600 into a different savings account at time o, which pays simple interest at an annual rate of i. Eric and Mike earn the same amount of interest during the last 6 months of the 14th year. Calculate i 3.75% O 3.80% O 3.90% 04.03% 04.13%
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