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show all work Fund A earns interest at a simple interest rate of 5% a year. Fund B earns interest at a compound interest rate
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Fund A earns interest at a simple interest rate of 5% a year. Fund B earns interest at a compound interest rate of j% a year. $100 is invested in fund A and $120 is invested in fund B. The accumulated amount in the two funds will be equal after 6 years. Determine the compound interest rate j Step by Step Solution
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The Charles Schwab Guide To Finances After Fifty
Authors: Carrie Schwab-Pomerantz, Joanne Cuthbertson
1st Edition
0804137366, 978-0804137362
