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.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 15T
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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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