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April 16, 2014

Homework Help: math

Posted by Seth on Sunday, February 19, 2012 at 8:26am.

Suppose that $200 was deposited on 1st Jan 2000 into an account that earned 5% interest compounded semiannually. Suppose further that $200 was deposited on 1st Jan 2001 into a different account that earned 6% interest compounded semiannually. In what month of what year will the total amount in the account earning 6% interest overtake the total amount in the account earning 5% interest?

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