You invest $1000 in a fund earning j₁ = 6% in the first year,j₂ = x% in the 2^nd year,and j₄ = 8% in the 3^rd year.If the accumulated value is $1264.98 after three years,what is the value of x?

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The correct answer is A.The accumulated value after three years is $1264.98. The initial investment is $1000. The interest earned in the first year is $1000 * 6% = $60. The interest earned in the second year is $1060 * x% = $106x. The interest earned in the third year is $1166 * 8% = $93.28. The total interest earned is $60 + $106x + $93.28 = $259.28. The accumulated value is $1000 + $259.28 = $1259.28. Therefore, x = (1264.98 - 1259.28) / 106 = 0.1, or 10%.

You Invest $1000 in a Fund Earning J1 = 6

You Invest $1000 in a Fund Earning J₁ = 6