question archive 1) A person deposited $1,000 in an account with 2% interest compounded quarterly (4 times a year)

1) A person deposited $1,000 in an account with 2% interest compounded quarterly (4 times a year)

Subject:MathPrice: Bought3

1) A person deposited $1,000 in an account with 2% interest compounded quarterly (4 times a year). In a second account, he deposited $500 in a 8% account compounded semi-annually (twice a year).

a. When will the total amounts in both accounts be equal?

b. When will the total amount in the second account be 50% more than the total amount in the second account?

 

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