Question

You deposit $3000 into an account which earns 5.1% interest per year, compounded annually. your friend simultaneously deposits $2000 into an account which earns a yearly interest rate of 7.5% compounded continuously. after how many years will both accounts have the same amount of money?

Answer 1

3000 (1+0.051)^(t)=2000 e^(0.075t)
Solve for t using Google calculator
To get
T=16.05 years