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Jason wants to have $50,000 accumulated at the end of 4 years and uses two funds to accumulate the $50,000. One fund provides an annual
Jason wants to have $50,000 accumulated at the end of 4 years and uses two funds to accumulate the $50,000. One fund provides an annual rate of return of i = .08 but has a limit of $5,000 that can be deposited each year. Another fund provides an annual rate of return of i = .04 and has no limit on the amount that can be deposited each year. On the first day of each of the next 4 years, Jason deposits $5,000 in the fund that earns interest at i = .08, and deposits $X in the fund that earns interest at i = .04. Find X such that the sum of the accumulated values in the two funds at the end of 4 years is $50,000
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