Fund X is valued at an annual effective interest rate of 6% and fund Y with an annual effective interest rate of 8%. The total value of these two funds at the end of the 20th year is 2,000 TL. At the end of the 10th year, the amount accumulated in fund X is half of the amount accumulated in fund Y. Accordingly, calculate the total amount of the two funds at the end of the 5th year. Thanks.

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
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Fund X is valued at an annual effective interest rate of 6% and fund Y with an annual effective interest rate of 8%. The total value of these two funds at the end of the 20th year is 2,000 TL. At the end of the 10th year, the amount accumulated in fund X is half of the amount accumulated in fund Y. Accordingly, calculate the total amount of the two funds at the end of the 5th year.

Thanks.

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