Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hello i need help answering this question. Kelly and Justin each win monetary prizes on the TV show US Icon. Kelly immediately deposits her money

Hello i need help answering this question. Kelly and Justin each win monetary prizes on the TV show US Icon. Kelly immediately deposits her money in an account paying 6:9% eective, while Justin immediately deposits his in an account paying 5% effective. After four years, they decide to get married and discover that they have a total of $59931:08 combined in their two accounts. If the sum of their original prizes was $47000, how much did Justin originally win?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles of Managerial Finance

Authors: Chad J. Zutter, Scott B. Smart

15th edition

013447631X, 134476315, 9780134478197 , 978-0134476315

More Books

Students also viewed these Finance questions

Question

Write a Python program to check an input number is prime or not.

Answered: 1 week ago

Question

Write a program to check an input year is leap or not.

Answered: 1 week ago

Question

Write short notes on departmentation.

Answered: 1 week ago

Question

Describe the process and importance of a competitor analysis.

Answered: 1 week ago

Question

Describe the importance of determining a core marketing strategy.

Answered: 1 week ago