Answer:
She should contribute $ 8369.38 ( approx )
Step-by-step explanation:
Let P be the amount invested by the other partner,
∵ The amount formula in compound interest,
![A=P(1+\frac{r}{n})^{nt}](https://tex.z-dn.net/?f=A%3DP%281%2B%5Cfrac%7Br%7D%7Bn%7D%29%5E%7Bnt%7D)
Where,
r = annual rate,
n = number of compounding periods in a year,
t = number of years,
Here, r = 9% = 0.09, n = 4 ( quarters in a year ), t = 2 years,
Then the amount after 2 years,
![A = P(1+\frac{0.09}{4})^{8}](https://tex.z-dn.net/?f=A%20%3D%20P%281%2B%5Cfrac%7B0.09%7D%7B4%7D%29%5E%7B8%7D)
According to the question,
A = $ 10,000,
![P(1+\frac{0.09}{4})^{8}= 10000](https://tex.z-dn.net/?f=P%281%2B%5Cfrac%7B0.09%7D%7B4%7D%29%5E%7B8%7D%3D%2010000)
![P(1+0.0225)^8 = 10000](https://tex.z-dn.net/?f=P%281%2B0.0225%29%5E8%20%3D%2010000)
![\implies P = \frac{10000}{1.0225^8}\approx \$ 8369.38](https://tex.z-dn.net/?f=%5Cimplies%20P%20%3D%20%5Cfrac%7B10000%7D%7B1.0225%5E8%7D%5Capprox%20%5C%24%208369.38)