Beth makes a deposit into an account which credits interest at a nominal interest rate of 9% per annum, convertible semiannually. At the same time, David deposits 1000 into a different bank account, which is credited with simple interest. At the end of 4 years, the forces of interest on the two accounts are equal, and David's account has accumulated to X. Find the value of X. X =

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter9: Quadratic Functions And Equations
Section9.9: Combining Functions
Problem 2AGP
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Beth makes a deposit into an account which credits interest at a nominal interest rate of 9% per annum, convertible semiannually. At the same time, David deposits 1000 into a different bank account, which is credited
with simple interest.
At the end of 4 years, the forces of interest on the two accounts are equal, and David's account has accumulated to X. Find the value of X.
X =
Transcribed Image Text:Beth makes a deposit into an account which credits interest at a nominal interest rate of 9% per annum, convertible semiannually. At the same time, David deposits 1000 into a different bank account, which is credited with simple interest. At the end of 4 years, the forces of interest on the two accounts are equal, and David's account has accumulated to X. Find the value of X. X =
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