Question: At time t = 0, John deposits 1400 into a fund which credits interest at a nominal interest rate of 9% compounded semiannually. At the

At time t = 0, John deposits 1400 into a fund which credits interest at a nominal interest rate of 9% compounded semiannually. At the same time, he deposits P into a different fund which credits interest at a nominal discount rate of 6.6% compounded monthly. At time t = 16, the amounts in each fund are equal. What is the annual effective interest rate earned on the total deposits, 1400 + P, over the 16-year period? (1.alvi-ix) #08] O 7.99% O 7.83% O 7.76% O 7.91% O 8.07%

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