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Sagot :
Answer:
Jon will have more money than Sara after 1 year . Jon will have 1440.738 dollars excess money than Sara
Step-by-step explanation:
As we know
Amount received after application of compound interest is calculated as
[tex]A = P (1+\frac{r}{n})^{nt}[/tex]
For Jon
[tex]A = 4500(1+\frac{7}{4*100})^{4} \\A= 4823.366[/tex]
Jon receives $ 4823.366 after one year
For Sara
[tex]A = 3250 (1+\frac{4}{365*100})^{365*1} \\A = 3382.628[/tex]
Jon will have more money than Sara after 1 year . Jon will have 1440.738 dollars excess money than Sara
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