Finite mathematics-time value of money

Reference no: EM13132132

For the following problems, determine how many years it will take for the two accounts to reach the same amount.

a. A 1000 dollar investment at a rate of 3% compounded monthly and an 1100 dollar investment at a rate of 3.02% compounded annually.

b. A 2000 dollar investment at a rate of 4% compounded continuously and a 3000 dollar investment at a rate of 5% compounded monthly.

Reference no: EM13132132

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