At a compound interest rate of $5 \%$ per annum, the accumulated value 3000 has the same accumulated value as deposits of 5X and 3X made at time t=0 and t=3, respectively. Find the value of 10X.
This is what I did: $5X (1.05)^0 = 3000 \Rightarrow X = 600$ $3X (1.05)^3=3000 \Rightarrow X= 863.84$
As you can see, they are not the same. Am I doing the right thing??? What should I do?
$3X+5X(1.05)^3 = 3000$
$X(3+5(1.05)^3) = 3000$
Find X from the above and then find 10X