John and Mary both decided to save up for retirement. They went to the bank together and
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John and Mary both decided to save up for retirement. They went to the bank together and John deposited $4000 into an account paying 3% interest compounded annually while Mary deposited $2000 into an account paying 5% interest compounded annually. How long will it be for both John's and Mary's account to have the same amount of money? How much will they have at that time?
Related Book For
College Mathematics for Business Economics Life Sciences and Social Sciences
ISBN: 978-0321614001
12th edition
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
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