SOLUTION: $500 was deposited on January 1, 1980, in an account paying 12% compounded semi-annually. On January 1, 1983, $400 was deposited in another account paying 15 1/2% compounded annual

Question 1009308: $500 was deposited on January 1, 1980, in an account paying 12% compounded semi-annually. On January 1, 1983, $400 was deposited in another account paying 15 1/2% compounded annually. Find the time when two accounts will be equal value, if the exact method is used for fractions of an interest period.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
the probability of a one- hundred year flood occuring is 1/100= 1%. A certain river has not reached its one hundred year flood level in the past 99 years. What is the probability that it will reach its one hundred year flood next year?
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The events are independent.
P(flood next year) = 1/100
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Cheers,
Stan H.
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