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You are given: (i.) Fund A accumulates at a nominal interest rate of 9% convertible monthly. (ii.) Fund B accumulates at a nominal discount rate
You are given:
(i.) Fund A accumulates at a nominal interest rate of 9% convertible monthly.
(ii.) Fund B accumulates at a nominal discount rate of 12% convertible semi-annually.
(iii.) At the end of 5 years, the total amount in the two funds is 1000.
(iv.) At the end of 2 years, the amount in Fund A equals the amount in Fund B.
Let X be the initial amount in Fund A and Y the initial amount in Fund B. Determine X Y
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