Gibson Guitar Corporation has chosen to build instruments one at a time, by hand. Gibson's century-old tradition of creating inv
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Answer:
Cindy has more amount than Jimmy.
Explanation:
Amount invested by Cindy P = $3000
Annual rate of interest = 8%
As the amount is compounded semiannually
So rate of interest %
Time = 20 year
So time period n = 20×2 = 40
So amount own by Cindy
$
Amount deposit by jimmy P = $3000
Annual rate of interest = 7.75 %
As the amount is compounded monthly
So rate of interest %
Time period = 20×12 = 240
So amount own by Jimmy
$
From the calculation we can see that Cindy has more amount than Jimmy.