Answer: $ 55
Step-by-step explanation:
When interest is compounded continuously, the final amount will be
![A=Pe^{rt}](https://tex.z-dn.net/?f=A%3DPe%5E%7Brt%7D)
When interest is compounded daily, the final amount will be
![A=P(1+\dfrac{r}{365})^{365t}](https://tex.z-dn.net/?f=A%3DP%281%2B%5Cdfrac%7Br%7D%7B365%7D%29%5E%7B365t%7D)
, where P= Principal , r = rate of interest , t = time
For Hunter , P= $750, r = ![6\dfrac{5}{8}\%=\dfrac{53}{8}\%=\dfrac{53}{800}=0.06625](https://tex.z-dn.net/?f=6%5Cdfrac%7B5%7D%7B8%7D%5C%25%3D%5Cdfrac%7B53%7D%7B8%7D%5C%25%3D%5Cdfrac%7B53%7D%7B800%7D%3D0.06625)
t = 18 years
![A=750e^{0.06625(18)}=\$2471.48](https://tex.z-dn.net/?f=A%3D750e%5E%7B0.06625%2818%29%7D%3D%5C%242471.48)
For London , P= $750, r = ![6\dfrac{1}{2}\%=\dfrac{13}{2}\%=\neq \dfrac{13}{200}=0.065](https://tex.z-dn.net/?f=6%5Cdfrac%7B1%7D%7B2%7D%5C%25%3D%5Cdfrac%7B13%7D%7B2%7D%5C%25%3D%5Cneq%20%5Cdfrac%7B13%7D%7B200%7D%3D0.065)
t = 18 years
![A=750(1+\dfrac{0.065}{365})^{18(365)}=\$2416.24](https://tex.z-dn.net/?f=A%3D750%281%2B%5Cdfrac%7B0.065%7D%7B365%7D%29%5E%7B18%28365%29%7D%3D%5C%242416.24)
Difference = $ 2471.48 - $ 2416.24 =$ 55.24≈$ 55
Hence, Hunter would have $ 55 more than London in his account .