Two investors open two savings accounts at a credit union. Both accounts earn 8% annual interest. In the first account, $1,000 are deposited at the end of the first year, & this amount is increased by $300 for each of the following four years. A constant amount is to be deposited into the second account for each of the 5 years. How big should the annual investment in the second account be such that both accounts have equal balances at the end of five years?

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ANS WER 1 000 WORK ING WITH EXPLANATION The first account has 1 000 deposited at the end of th... View the full answer