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You deposit 1,000 today and another 2,000 in ve years into a fund that pays simple discount at 5% per year. Your friend makes the same deposits into another fund but at times n and 2n, respectively. the fund credits interest at an annual eective rate of interest of 10%. At the end of 10 years, the accumulated value of your deposits is exactly the same as the accumulated value of your friends deposits. Calculate n [3 marks

You deposit 1,000 today and another 2,000 in ve years into a fund that pays simple discount at 5%per year. Your friend makes the same deposits into another fund but at times n and 2n, respectively.the fund credits interest at an annual eective rate of interest of 10%. At the end of 10 years, theaccumulated value of your deposits is exactly the same as the accumulated value of your friendsdeposits. Calculate n [3 marks