Why is dividing by a number (like 2) the same as multiplying by its reciprocal (like 1/2)?
2 answers:
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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,
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,
According to the question,
A = $ 10,000,