SOLUTION: amira invests $100 in an account that gain 3% interest every year. Ruby invests $50 into an account that earns 2% interest every half year. In how many years will the accounts have

Algebra.Com
Question 1140511: amira invests $100 in an account that gain 3% interest every year. Ruby invests $50 into an account that earns 2% interest every half year. In how many years will the accounts have the same value?
Answer by greenestamps(13209)   (Show Source): You can put this solution on YOUR website!











Use a calculator....

Or with a good graphing calculator like the TI83, you can simply graph and and find their intersection.

RELATED QUESTIONS

Sharyn invests 2000 more in an account that earns 9% simple interest than she invests in... (answered by Boreal)
If an investor invests a total of $25,000 into two bonds, one that pays 3% simple... (answered by Boreal)
A business invests $25,000 in an account that earns 5% interest compounded annually. What (answered by jim_thompson5910)
Kelly invests $3000 in an account that earns 12% interest per year. Find the amount due... (answered by Boreal,Alan3354)
Cheryl invests her inheritance in 2 separate accounts. She puts part of it in an account (answered by Theo)
A person invests $100 in an account that pays interest monthly with an APR of 12%. How... (answered by jpg7n16)
Victoria invests $1500 in an account that earns 3% interest annually. her friend James... (answered by Theo)
Dinero has money in two different account. Part of the money is invested in an account... (answered by mananth)
Sarah invests $1000 in an account that earns 5.25% interest compounded annually. How long (answered by addingup)