Nandana invests $500 at the start of each year for 20 years in a bank account paying interest at the effective annual rate i. She takes the interest paid at the end of each year and invests it in a different account paying an effective annual rate i/2. The effective annual rate she earns on her combined investments is 6%.

a) How much money does she have at the end of 20 years? (Total of both accounts.)

b) What is i?

show in formulas answer should be a) 14196 b) 3.56 show how