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Regine deposits 100,000 into an account that earns interest at a rate of 12% convertible quarterly. At the same time, Rhea deposits 100,000 into an
Regine deposits 100,000 into an account that earns interest at a rate of 12% convertible quarterly. At the same time, Rhea deposits 100,000 into an account that earns 6% convertible monthly. For both accounts interest is only deposited into the account the end the accounts interest conversion period.
Calculate the number of months until the amount in Regines account is at least twice as much as the amount in Rheas account.
(6) Regine deposits P100,000 into an account that earns interest at a rate of 12% convertible quarterly. At the same time, Rhea deposits P100,000 into an account that earns 6% convertible monthly. For both accounts interest is only deposited into the account the end the account's interest conversion period. Calculate the number of months until the amount in Regines account is at least twice as much as the amount in Rhea's accountStep by Step Solution
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