Lincoln invested $49,000 in an account paying an interest rate of 6\tfrac{1}{8}681% compounded daily. Eli invested $49,000 in a

Question

2 years ago

14

Lincoln invested $49,000 in an account paying an interest rate of 6\tfrac{1}{8}681% compounded daily. Eli invested $49,000 in a

n account paying an interest rate of 5\tfrac{5}{8}585% compounded continuously. After 20 years, how much more money would Lincoln have in his account than Eli, to the nearest dollar?

Mathematics

1 answer:

timofeeve [1] · Answer 1 · 2023-06-05T15:48:49+03:00

timofeeve [1]2 years ago

6 0

Answer: 15856

Step-by-step explanation: 166786.9963 - 150930.6256

= 15856.3707

= $15856

Lincoln invested $49,000 in an account paying an interest rate of 6\tfrac{1}{8}681​% compounded daily. Eli invested $49,000 in a

Lincoln invested $49,000 in an account paying an interest rate of 6\tfrac{1}{8}681% compounded daily. Eli invested $49,000 in a