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divide the sum of £7890 between charlotte and ali. given that the shares of charlotte at the end of 6 years may be equal to the shares of ali at the end of 8 years. compound interest being 5% ?

Sagot :

Parrain

Based on the sum and the share value after the relevant number of years, Charlotte's share is $4,137.46 and Ali's share is $3,752.54.

What are Ali and Charlotte's shares?

This can be solved using the substitution method:

Alice share + Charlotte's share = 7,890

As + Cs = 7,890

As = Cs

(As x Future value factor, 5%, 8 years) = (Cs x Future value factor, 5%, 6 years)

(As x 1.47745) = (Cs x 1.3400)

Cs = (As x 1.47745) / 1.3400

Cs = As x 1.1025746

Slotting these back in the original formula gives:

As + (As x 1.1025746) = 7,890

2.1025746As = 7,890

,As = 7,890 / 2.1025746

= $3,752.54

Charlotte's share will be:

= 7,890 - 3,752.54

= $4,137.46

Find out more on the substitution method at https://brainly.com/question/190818.

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