2) Fund X earns i(12) = 6% interest, while Fund Y earns 12) = 3% interest...

Transcribed Image Text:

2) Fund X earns i(12) = 6% interest, while Fund Y earns 12) = 3% interest (and both start off with no money in them). You deposit $1000 into fund X at the end of each month for 20 years and at the end of each month, withdraw the month's interest and deposit it into fund Y. Find the accumulated value in fundY at the end of the 20 years. Also fill in the following table Month 239 240 Amount in 1st account Amonnt deposited into 2nd account 2) Fund X earns i(12) = 6% interest, while Fund Y earns 12) = 3% interest (and both start off with no money in them). You deposit $1000 into fund X at the end of each month for 20 years and at the end of each month, withdraw the month's interest and deposit it into fund Y. Find the accumulated value in fundY at the end of the 20 years. Also fill in the following table Month 239 240 Amount in 1st account Amonnt deposited into 2nd account

Answer rating: 100% (QA)

Every month a deposit of 1000 is funded into account 1 with 6 interest earned is 61000 12100 5 And 5 ... View the full answer