Question

7.
1000 is deposited into Fund X, which earns an annual effective rate of 6%. At the end
of each year, the interest earned plus an additional 100 is withdrawn from the fund. At
the end of the tenth year, the fund is depleted.
The annual withdrawals of interest and principal are deposited into Fund Y, which earns
an annual effective rate of 9%.
Determine the accumulated value of Fund Y at the end of year 10.
(A)
1519
(B)
1819
(C)
2085
2273
(E)
2431
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Answer 1

Answer:

Answer:

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ANSWER

History. 1850–1904: Dadabhai Naoroji, Gopal Krishna Gokhale, Mahadev Govind Ranade, Bal Gangadhar Tilak, G. V. Joshi, and Bhaswat K. Nigoni began organizing to promote Indian nationalism (the First Swadeshi Movement). 1905–1917: The movement opposed the 1905 Partition of Bengal, which was ordered by Lord Curzon.

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