Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Rhonda deposits A dollars in an account paying 6.6 percent effective, and at the same time also deposits B dollars in another account paying 8.6
Rhonda deposits A dollars in an account paying 6.6 percent effective, and at the same time also deposits B dollars in another account paying 8.6 percent effective. After 8 years have passed, the combined total in the two accounts is 52000 dollars. In another 2 years, the balance in the account paying 8.6 percent effective is three times that of the other account. What is the balance in the account paying 6.6 percent effective 13 years after the initial deposit?
Answer = dollars.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started