Zachary invested $5,300 in an account paying an interest rate of 9 % compounded

continuously. Peyton invested $5,300 in an account paying an interest rate of 85%

compounded quarterly. After 9 years, how much more money would Zachary have in

his account than Peyton, to the nearest dollar?

Question

08-03-2021
Mathematics

Answered

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Zachary invested $5,300 in an account paying an interest rate of 9 % compounded

continuously. Peyton invested $5,300 in an account paying an interest rate of 85%

compounded quarterly. After 9 years, how much more money would Zachary have in

his account than Peyton, to the nearest dollar?

Sagot :

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