Annual effective interest rate


Problem:

A deposit of X is made into a fund which pays an annual effective interest rate 6% for 10years. At the same time, X/2 is deposited into another fund which pays an annual effective rate of discount of d for 10 years. The amounts of interest earned over 10 years are equal for both funds. Calculate d.

Please provide all calculation and formulas.

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Finance Basics: Annual effective interest rate
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