Makayla invested $99,000 in an account paying an interest rate of 2 % compounded
continuously. Mia invested $99,000 in an account paying an interest rate of 2%
compounded quarterly. To the nearest hundredth of a year, how much longer would
it take for Makayla's money to double than for Mia's money to double?

Question

04-03-2021
Mathematics

Answered

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Makayla invested $99,000 in an account paying an interest rate of 2 % compounded
continuously. Mia invested $99,000 in an account paying an interest rate of 2%
compounded quarterly. To the nearest hundredth of a year, how much longer would
it take for Makayla's money to double than for Mia's money to double?

Sagot :

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