Mathematics, 20.07.2021 14:00 konoisaa

Marcel invests $2500 for 3 years at a rate of 1.6% per year simple interest. Jacques invests $2000 for 3 years at a rate of x% per year compound interest.
At the end of the 3 years Marcel and Jacques receive the same amount of interest.
Calculate the value of x correct to 3 significant figures.

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Marcel invests $2500 for 3 years at a rate of 1.6% per year simple interest. Jacques invests $2000...

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Marcel invests $2500 for 3 years at a rate of 1.6% per year simple interest. Jacques invests $2000 for 3 years at a rate of x% per year compound interest. At the end of the 3 years Marcel and Jacques receive the same amount of interest. Calculate the value of x correct to 3 significant figures.

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Another question on Mathematics

Marcel invests $2500 for 3 years at a rate of 1.6% per year simple interest. Jacques invests $2000 for 3 years at a rate of x% per year compound interest.
At the end of the 3 years Marcel and Jacques receive the same amount of interest.
Calculate the value of x correct to 3 significant figures.