Ian invested $20,000 in an account paying an interest rate of 3\tfrac{1}{4}3 4 1 % compounded continuously. Lauren invested $2

Question

3 years ago

12

Ian invested $20,000 in an account paying an interest rate of 3\tfrac{1}{4}3 4 1 % compounded continuously. Lauren invested $2

0,000 in an account paying an interest rate of 3\tfrac{7}{8}3 8 7 % compounded monthly. After 20 years, how much more money would Lauren have in her account than Ian, to the nearest dollar?

Mathematics

1 answer:

Verdich [7] · Answer 1 · 2022-03-30T12:11:49+03:00

Verdich [7]3 years ago

3 0

Answer:

$5047

Step-by-step explanation:

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Ian invested $20,000 in an account paying an interest rate of 3\tfrac{1}{4}3 4 1 ​ % compounded continuously. Lauren invested $2

Ian invested $20,000 in an account paying an interest rate of 3\tfrac{1}{4}3 4 1 % compounded continuously. Lauren invested $2