Question

James invests $10,000 in an account earning 6% interest, compounded annually. Curtis invests $10,000 in an account earning 5% interest, compounded annually. Given that no additional deposits are made, compare the balances of the two accounts after 10 years. (round to the nearest dollar) A) Curtis has $1,619 more in his account than James. B) James has $1,619 more in his account than Curtis. C) Curtis has $1,046 more in his account than James. D) James has $1,046 more in his account than Curtis.

Answer 1

B.) James has $1,619 more in his account than James.