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Person A makes a single deposit of $1,200 into a savings account that earns interest continuously under the force of interest of 10% for 6
Person A makes a single deposit of $1,200 into a savings account that earns interest continuously under the force of interest of 10% for 6 years. Person B makes investment by depositing an amount L into a savings account at the end of each year for 6 years under the annual effective interest rate of 5%. Assume that the accumulated amount in Person As and Person Bs savings accounts, at the end of year 6, right after interest has been applied, are the same. Determine L.
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