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Joe deposits 10 today and another 30 in five years into a fund paying simple interest of 11% per year. Tina will make the same
Joe deposits 10 today and another 30 in five years into a fund paying simple interest of 11% per year. Tina will make the same two deposits, but the 10 will be deposited n years from today and the 30 will be deposited 2n years from today. Tinas deposits earn an annual effective rate of 9.15% . At the end of 10 years, the accumulated amount of Tinas deposits equals the accumulated amount of Joes deposits. Calculate n.
the answer is 2.325 years. I don't know how to get it
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