You currently have two investment accounts, into which you pay $200 monthly. One of these generates 5%

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Question:

You currently have two investment accounts, into which you pay $200 monthly. One of these generates 5% interest compounded monthly, and the other generates 6% compounded monthly. In an effort to simplify your investment portfolio, you decide to find a single account that will generate the same amount of interest that your current two accounts generate.

Give the characteristics of the investment account you would choose. Make sure you justify why this account will be able to take the place of the two accounts you currently hold.