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Kathy and Mark Smith belleve investing in their retirement is critical. Kathy began investing 20 % of each paycheck In a retirement account when she was 20 years old. She has saved four times more than Mark who began saving when he was 35. If their total retirement savings equals $1,485,000, how much is Kathy's Investments worth? Kathy's retirement savings Mark's retirement savings

Respuesta :

Answer:

Kathy's retirement savings: 1188000

Mark's retirement savings: 297000

Step-by-step explanation:

Let

k   is Kathy's retirement savings

m is Mark's retirement savings

Since kathy saved four times higher than Mark, hence we have

k = 4m ...............(1)

Total savings  of both equals to $1,485,000 so we have

k+ m = 1485000 ....................(2)

substituing  k = 4m in equation (2)  

4m + m = 1485000

5m = 1485000 [tex]m =  \frac{1485000}{5}[/tex]

m = 297000

Hence

k = 4m = [tex]k = 4\times (297000)[/tex]

k =1188000

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