At time 0, Cheryl deposits X into a bank account that credits interest at an annual effective rate of 6%. At time 3, Gomer deposits 10000 into a different bank account that credits simple interest at an annual rate of y%. At time 5, the annual forces of interest on the two accounts are equal, and Gomer's account has accumulated to Z. Calculate Z.
At time 0, Cheryl deposits X into a bank account that credits interest at an annual effective rate of 6%. At time 3, Gomer deposits 10000 into a different bank account that credits simple interest at an annual rate of y%. At time 5, the annual forces of interest on the two accounts are equal, and Gomer's account has accumulated to Z. Calculate Z.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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At time 0, Cheryl deposits X into a bank account that credits interest at an annual effective rate of 6%. At time 3, Gomer deposits 10000 into a different bank account that credits simple interest at an annual rate of y%. At time 5, the annual forces of interest on the two accounts are equal, and Gomer's account has accumulated to Z. Calculate Z.
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