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please give the detail explaination, thank you sm for your help ! An investor puts 100 into Fund X and 100 into Fund Y. Fund
please give the detail explaination, thank you sm for your help !
An investor puts 100 into Fund X and 100 into Fund Y. Fund Y earns compound interest at the annual rate of j>0, and Fund X earns simple interest at the annual rate of 1.05j. At the end of 2 years, the amount in Fund Y is equal to the amount in Fund X. Calculate the amount in Fund Y at the end of 5 years (A) 150 (B) 153 (C) 157 (D) 161 (E) 165Step by Step Solution
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