SOLUTION: Two brothers, Mark and Walter, each inherit $25000. Mark invests his inheritance in a savings account with an annual return of 2%, while Walter invests his inheritance in a CD pay
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Question 1044996: Two brothers, Mark and Walter, each inherit $25000. Mark invests his inheritance in a savings account with an annual return of 2%, while Walter invests his inheritance in a CD paying 6% annually. How much more money than Mark does Walter have after 1 year?
Found 3 solutions by advanced_Learner, ikleyn, MathTherapy:
Answer by advanced_Learner(501) (Show Source): You can put this solution on YOUR website!
350 dollars
Answer by ikleyn(52810) (Show Source): You can put this solution on YOUR website!
.
0.06*25000 - 0.02*25000 = 1500 - 500 = 1000 dollars.
Answer by MathTherapy(10555) (Show Source): You can put this solution on YOUR website!
Two brothers, Mark and Walter, each inherit $25000. Mark invests his inheritance in a savings account with an annual return of 2%, while Walter invests his inheritance in a CD paying 6% annually. How much more money than Mark does Walter have after 1 year?
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