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Financial math Ten annual deposits of 1000 each are made to Account A, starting on January 1, 1986. Annual deposits of 500 each are made
Financial math
Ten annual deposits of 1000 each are made to Account A, starting on January 1, 1986. Annual deposits of 500 each are made to Account B indefinitely, also starting on January 1,1986 . Interest on both accounts is at rate i=.05, with interest credited every December 31 . On what date will the balance for Account B first exceed the balance for Account A? Assume that the only transactions to the accounts are deposits and interest credited every December 31 Step by Step Solution
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