Anton deposits P400,000 today and another P200,000 in 6 years into a fund paying simple interest of 5% per year. Andres on the other hand made the same two deposits but P400,000 will be deposited t years from today and P200,000 will be deposited 2t years from today. His account earns an annual effective rate of 4%. At the end of 15 years, the accumulated amount of Anton’s deposits equals the accumulated amount of Andres deposits. Calculate t (round off to the nearest two decimal places).

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Amortized Loans

The term "amortization" refers to spreading the value of a loan or a debt over a series of regular payments or installments comprising of both the principal and interest amount. It generally involves the process where in the value of a loan or an intangible asset is written down over its maturity period.