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4 November, 03:33

Jackie wants to split his $12,000 investment between two compound interest accounts. He puts $4500 into an account paying 12 percent and the rest into an account paying 8%. If the money if left untouched, how much will he have (total of both accounts) after 18 years?

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  1. 4 November, 06:00
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    A=p (1+r) ^t

    A=4,500 * (1+0.12) ^ (18) + 7,500 * (1+0.08) ^ (18)

    A=64,574.99
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