Two investments to be worth exactly the same amount

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Reference no: EM131965192

Two investments are made at the same time. The first consists of investing $1450 at a nominal rate of interest of 9.4% convertible semiannually. The second consists of investing $1350 at a nominal rate of interest of 9.4% convertible daily. How long will it take for the two investments to be worth exactly the same amount? (Assume compound interest at all times.)

Answer = years. (Round your answer to four places after the decimal.)

Reference no: EM131965192

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