Fund Y accumulates at an interest rate of 6% compounded semiannually

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Fund Y accumulates at an interest rate of 6% compounded semiannually
  • Fund Y accumulates at an interest rate of 6% compounded semiannually

  • Answers • 3 pages • 2020
  • You are given (1) Fund X accumulates at an interest rate of 8% compounded quarterly (2) Fund Y accumulates at an interest rate of 6% compounded semiannually (3) at the end of 10 years, the total amount in the two funds combined is 1000 (4) at the end of 5 years, the amount in Fund X is twice that in Fund Y Calculate the total amount in the two funds at the end of 2 years. I know the final answer is 560 I just need to know how to get it.
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