A professor of statistics wants to test that the average amount of money a typical college student spends per day during spring
1 answer:
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Answer: $ 55
Step-by-step explanation:
When interest is compounded continuously, the final amount will be
When interest is compounded daily, the final amount will be
, where P= Principal , r = rate of interest , t = time
For Hunter , P= $750, r =
t = 18 years
For London , P= $750, r =
t = 18 years
Difference = $ 2471.48 - $ 2416.24 =$ 55.24≈$ 55
Hence, Hunter would have $ 55 more than London in his account .