Samuel invested $9,200 in an account paying an interest rate of 7\tfrac{1}{8}7 8 1 % compounded monthly. Noah invested $9,200

Question

2 years ago

9

Samuel invested $9,200 in an account paying an interest rate of 7\tfrac{1}{8}7 8 1 % compounded monthly. Noah invested $9,200

in an account paying an interest rate of 7\tfrac{3}{4}7 4 3 % compounded daily. After 7 years, how much more money would Noah have in his account than Samuel, to the nearest dollar?

Mathematics

1 answer:

zzz [600] · Answer 1 · 2023-04-02T18:53:14+03:00

zzz [600]2 years ago

7 0

Answer:

$699

Step-by-step explanation:

15825.8693-15126.9611

698.9082 (round to nearest dollar)

Answer: $699

Samuel invested $9,200 in an account paying an interest rate of 7\tfrac{1}{8}7 8 1 ​ % compounded monthly. Noah invested $9,200

Samuel invested $9,200 in an account paying an interest rate of 7\tfrac{1}{8}7 8 1 % compounded monthly. Noah invested $9,200