A person makes an initial deposit of $5, 000 into an account earning an effective annual compound interest rate of i for

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answerhappygod
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A person makes an initial deposit of $5, 000 into an account earning an effective annual compound interest rate of i for

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A person makes an initial deposit of $5, 000 into anaccount earning an effective annual compound interest rateof i for each full year money is in the account, andearning a simple annual interest rate of 6% for fractions of yearsthat money is in the account. The money in the account is fullywithdrawn once the account hits $15,000, which occurs 10 monthsinto the 12th year. Find i.
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