Select ALL the correct answers. Tammy deposits $1,850 in an individual retirement account earning 2.6% interest, compounded annually. She also deposits $2,015 in business interest bearing account earning 1.5% interest, compounded annually. Select the equation and the number of years, x, it will take for the amount of money in both accounts to be equal. Round to the nearest whole year.1,850(1.026)^x = 2,015(1.015)^x1,850(1.26)^x = 2, 015(1.15)^x1,850(1.126)^x = 2,015(1.115)^x6 years8 years9 years

Question
Answer:
Income of the first account after x years:
[tex]1,850(1.026)^x[/tex]
Income of the second account after x years:
[tex]2,015(1.015)^x[/tex]
Equating the above tw values we get the equation:
[tex]1,850(1.026)^x=2,015(1.015)^x[/tex]
Solving the above equation for x:
[tex]x=8[/tex]
Answer 8 years.Β 
solved
general 11 months ago 2093