Question

Account A and B each start out with $500. If Account A earns $50 each year and Account B earns 6% of its value each year, after how many years will Account B have more money than Account A? If necessary, round your answer to the nearest year.

Answer 1

Answer: After about years 27 Account B will have more money than Account A  

Step-by-step explanation:  

Account A: 27(50) + 500 = $1850

Account B: 500(1.05^27) = $1866.73  

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