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QUESTION 3 Fund X starts with 1,000 and accumulates with a force of interest, 8t-1/(16-1) for Osts15 where is in years. Fund Y starts with

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QUESTION 3 Fund X starts with 1,000 and accumulates with a force of interest, 8t-1/(16-1) for Osts15 where is in years. Fund Y starts with 1,000 and accumulates with an annual nominal interest rate of 8%, compounded monthly for the first ten years and an annual effective interest rate of thereafter. Fund X equals Fund Y at the end of 12 years. Calculate i. OA) 12.29 8) 17.496 C) 20.395 WD) 28.596 E) 34.29

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