SOLUTION: tina invests 5000 rs in a mutual fund at 7.5 percent simple interest per annum. She also has a 4 year loan of 10000 rs at 3.75 percent simple interest per annum. When will the amou
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Question 1150183: tina invests 5000 rs in a mutual fund at 7.5 percent simple interest per annum. She also has a 4 year loan of 10000 rs at 3.75 percent simple interest per annum. When will the amount of interest earned on the mutual fund be equal to the amount of interest paid on the loan? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! For mutual fund:
(1)
(1)
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For loan:
(2)
(2)
(2)
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(1)
(1)
(1)
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In 4 yrs the interest earned will be the same
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check:
(1)
(1)
and
(2)
OK
