Nolan invested $8,100 in an account paying an interest rate of 8 3/4% compounded quarterly. Carter invested $8,100 in an account

Question

3 years ago

9

Nolan invested $8,100 in an account paying an interest rate of 8 3/4% compounded quarterly. Carter invested $8,100 in an account

paying an interest rate of 8 3/4% compounded annually. After 5 years, how much more money would Carter have in his account than Nolan, to the nearest dollar?

Mathematics

2 answers:

Gennadij [26K] · Answer 1 · 2022-07-19T08:13:40+03:00

Gennadij [26K]3 years ago

8 0

Answer:

61

Step-by-step explanation:

brainly said so lol

statuscvo [17] · Answer 2 · 2022-07-19T06:38:18+03:00

statuscvo [17]3 years ago

5 0

Answer:

I believe Nolan would have more money after 5 years, by $165

Step-by-step explanation:

Nolan:

A = 8100(1 + (.0875/4))^20

A = 12,486

Carter:

A = 8100 (1 + .0875)^5

A = 12,321