Rhonda deposits a in an account with an effective interest


Rhonda deposits $A in an account with an effective interest rate of 7.8%. At the same time, she also deposits $B into another account with an effective interest rate of 8.8%. After 7 years have passed, the combined total in the two accounts is $60000. In another 2 years, the balance in the account paying 8.8% is three times that of the other account. What is the balance in the account with 7.8% effective interest 11 years after the initial deposit?

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Financial Management: Rhonda deposits a in an account with an effective interest
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