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Joe deposits 10 today and another 30 in five years into a fund paying simple interest of 11% per year.

Tina will make the same two deposits, but the 10 will be deposited n years from today and the 30 will be deposited 2n years from today.

Tina's deposits earn an effective annual rate of 9.15%.

At the end of 10 years, the accumulated amount of Tina's deposits equals the accumulated amount of Joe's deposits. Calculate n.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92799842

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