subject
Mathematics, 19.07.2019 17:30 dakotacsey03

George and jim were brother were brothers who were each left an inheritance of $20,000. george invested his money in an account for 5 years at an annual interst rate of 6% compounded quarterly, jim invested his money for 5 years at an annual simple interest rate of 6.75%.at the end of the five years, they agreed to pool their accumulated principals into one account for a further 5 years with an annual interest rate of 5% compounded monthly. a. how much accumulated principal did george and jim each have after 5 years? hence determine how much money they had to pool. b. what was the accumulated principal of their pooled money at the end of the 10 year period. c. when george and jim first recieved their inheritance, the executor of the will suggested that they pool their resources immediately for 10 years and invest in an account that paid an annual interest rate of 6.75% compounded monthly. in view of your answer in (a) and (b) above, should they have taken this advice? explain.

ansver
Answers: 1

Other questions on the subject: Mathematics

image
Mathematics, 21.06.2019 17:30, veheca
Which is the equation of a line perpendicular to the line with the equation 3x+4y=8
Answers: 1
image
Mathematics, 21.06.2019 23:00, suevazpue
Analyze the diagram below and complete the instructions that follow. how to find tan
Answers: 2
image
Mathematics, 22.06.2019 00:30, princeton
What should be done to both sides of the equation in order to solve -5m = -40? a) multiply by -5. b) divide by -5. c) multiply by -40. d) divide by -40.
Answers: 2
image
Mathematics, 22.06.2019 01:30, ponylover9558
5cakes cost 3.50 how much do 7 cakes cost
Answers: 2
You know the right answer?
George and jim were brother were brothers who were each left an inheritance of $20,000. george inves...

Questions in other subjects:

Konu
Chemistry, 07.02.2021 14:20
Konu
Chemistry, 07.02.2021 14:20
Konu
English, 07.02.2021 14:20
Konu
Chemistry, 07.02.2021 14:20
Konu
Health, 07.02.2021 14:20