a mother plans to have 4 kids

timer Asked: Aug 15th, 2015

Question description

 A mother plans to have 4 children and distribute her estate, worth $400000 between them as follows: ¼ of the estate is to be split equally among the children. For the rest, each child is to receive $3000 every year until all the money is given out. As soon as the first child is born she puts his\her money in one account. When the second child is born she puts also his\her part in another account, and so on. Given that the children are all 4 years apart, how much would each receive from their mother’s estate?

(Hint: Let “x”, “y”, “z” and “w” be the amount of money that each child will receive from the splitting of  of the estate according to age, starting with the oldest one.)

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