Jane deposits 500 into an account at the beginning of each 4-year period for 40
years. The account credits interest at an annual e ective interest rate of i. The
accumulated amount in the account at the end of 40 years is X, which is 5 times
the accumulated amount in the account at the end of 20 years. Calculate X.|||interest rate is i?? Tell me the interest rate and I will let you know, unless you are in school and this is a problem......
If you want to know a number, you need an interest rate...
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