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?
