Question:Alisha makes an initial $1000 investment into account A and
Joe makes an initial investment of...
Question
Alisha makes an initial $1000 investment into account A and
Joe makes an initial investment of...
Alisha makes an initial $1000 investment into account A and
Joe makes an initial investment of $800 into account B, both
earning the same nominal discount rate compounded weekly. If the
amount of interest earned by Alisha between the end of the 5th year
and the 7th year is the same as the interest earned by Joe between
the end of the 9th year and the end of the 11th year, then find
this nominal discount rate.
Hint: If the nominal discount rates are equal then so are the
effective annual interest rates.