Answer:
Given:
Sebastian :
Principal(invested)= $7,100
Rate of interest= 8.14% compounded monthly
Eva:
Principal(invested)= $7,100
Rate of interest= 8.12% compounded continuously
Step-by-step explanation:
After 5 years,
In Sebastian case:
Amount= Principal*
Amount = 7100*
Amount= 7100*
Amount=7100*109.4415
Amount= $777,034.43
In Eva case,
Amount= Principal*
Amount = 7100*
Amount= 7100*130.5818
Amount= $927,130.92
Difference between their money=$927,130.92-777034.43
=$150,096.49
Eva has $150,096 more money than Sebastian.