Question

An investor puts $100 into Fund X and $100 into Fund Y. Fund Y earns compound interest at the annual rate of j > 0, and Fund X earns a simple interest at the annual rate of 1.05j. At the end of 2 years, the amount in fund Y = the amount in fund X. Calculate the amount in Fund Y at the end of 5 years.

Answer 1

First find the value of j

Answer 2

can u?

Answer 3

getting started is where i need help. should i start with the formula for simple interest? a(t) = 1+it?

Answer 4

Simple interest= PTR/100

Answer 5

and just for clarification, what does P T and R stand for.

Answer 6

principle, time, and rate?

Answer 7

sorry, connection loss