John deposited $1000 on 1st January 2011 in an account paying interest of 12% per annum compounded
Fantastic news! We've Found the answer you've been seeking!
Question:
John deposited $1000 on 1st January 2011 in an account paying interest of 12% per annum compounded quaterly. He also deposited $800 (on 1st January 2011) in another account which pays 15% per annum effective interest. Find the time(n) when the two accounts will be equal value if the exact method is used for fractions of an interest period.
pla be fast
Posted Date: