Joe and Kevin each open new bank accounts at time 0. Joe deposits 100 into his account and Kevin deposits 90 into his account. Each account earns the same effective rate of interest (i.e. compound interest). The amount of interest earned in Joe's account during the 7th year is equal to the amount of interest earned in Kevin's account during the 11th year. Find the effective rate of interest for the two accounts. ff) 3.33% Ti, 2.13% O 3.57% O 2.67% You are investing 1,000 and are given the choice between two accounts. Account A pays 10% simple interest and Account B pays compound interest i. You know that over the rst three years, both accounts will earn the same amount of interest. What is the interest rate i for Account B? r: 9.14% 5') 30.00% ('7 10.00% 1') 11.03%