Task $3$

Two siblings each inherit DKK $250,000.$ One deposits his inheritance into an account

with a fixed annual interest rate of $4\%.$

a$.$ How much money will be in the account after $5$ years?

The other deposits his inheritance in a variable interest account. After $5$ years, there is

DKK $287,574\mathrm{.}50$ in this account.

b$.$ Determine the average annual percentage rate for this account.

Formel:

the interest formula:

$K_n=K_0*(1+r{)}^n.$

Annuity savings:

$A_n=y*\frac{(1+r{)}^n-1}{r}.$

Annuity loan where the benefit y must be calculated:

$y=G*\frac{r}{1-(1+r{)}^{-n}}.$

Annuity loan where the term $n$ must be calculated:

$n=-\frac{log(1-\frac{G*r}{y})}{log(1+r)}.$