Dustin's family is moving across town. They are busy packing their furniture into a moving van. The storage space in the moving
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Answer: William will pay $ 330.76 more interest than Shani at the end of 3 years.
Step-by-step explanation:
Compound interest = <em> , </em>P= principal , r= rate of interest , t= time
Given: P = $5000 , t= 3 years
For Shani , r= 4% = 0.04
Compound interest =
For William, r= 6%= 0.06
Compound interest =
Difference = $ ( 955.08- 624.32)
= $ 330.76
Hence, William will pay $ 330.76 more interest than Shani at the end of 3 years.