Aubree invested $27,000 in an account paying an interest rate of 0.0825% compounded monthly. Addison invested $27,000 in an acco
unt paying an interest rate of 0.08625 % compounded continuously. After 20 years, how much more money would Addison have in her account than Aubree, to the nearest dollar?
The total amount accrued, principal plus interest, from simple interest on a principal of $27,000.00 at a rate of 0.0825% per year for 20 years is $27,445.50.
The student is not correct. He should use parentheses like this 9(n+13). Without the parentheses, it means nine times n plus 13, but should be the sum of n plus 13 multiplied by 9.
