A man had two grandchildren aged 10 and 14. He had 10,000 to will them...

60.1K

Verified Solution

Question

Accounting

A man had two grandchildren aged 10 and 14. He had 10,000 to will them and wanted to be equal amounts when they turned 21

The money would be put into bank account with a fixed rate interest rate of 6 percent

How much of 10,000 should go into each account in order for the two children to inherit equal sums?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students