Question: Two bank accounts are opened at the same time. The first has a principal of $1000 in an account earning 9% compounded quarterly. The second

Two bank accounts are opened at the same time. The first has a principal of $1000 in an account earning

9%

compounded

quarterly.

The second has a principal of

$6000

in an account earning

3%

interest compounded

annually.

Determine the number of years, to the nearest tenth, at which the account balances will be equal.

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